DNO International ASA - May 2009 Production Report
DNO is today reporting May 2009 working interest (WI) production of
11,259 bopd.
Yemen production
DNO's working interest (WI) production from Yemen in May 2009 was
7,856 bopd. DNO's net entitlement production from Yemen in May 2009
was 5,794 bopd and average realized oil price was USD 59/bbl.The YTD
production to DNO from Yemen is in line with management expectations.
DNO's oil production from Yemen is reported as follows:
(Bopd) Q1 2009 April-09 May-09 YTD-09
Working interest (WI) 7,925 8,108 7,856 7,947
Net entitlement (NE) 5,936 6,026 5,794 5,925
Achieved oil price (USD/bbl) 43 50 59 48
The production figures (WI and NE) include crude oil consumed in the
operation of the Company's production s facilities, at an accumulated
volume of 267 bopd in May 2009 and 289 bopd YTD 2009.
DNO's revenue entitlement from the Tawke test production
The revenue entitlement from Tawke test production is reported as
follows:
(MNOK) Q1 2009 April-09 May-09 YTD-09
Kurdistan/Iraq 33,1 9,8 11,1 54,0
The May revenue entitlement from the Tawke test production has been
in line with the first quarter figures.
As previously reported, DNO completed in May all outstanding work and
undertook all necessary preparations and commissioning of the Tawke
facilities, after which export of crude oil from the Tawke field
commenced on 1st June 2009.
The first stage of the Tawke development has been designed to deliver
50,000 bopd and DNO is now for the first time in a position to test
the full capacity of the facilities. Fine-tuning and adjustments of
the facilities will be undertaken as required during the initial
run-in period. The plan is to establish a stable export rate at full
capacity as quickly as possible in a safe and prudent manner, in
close cooperation with the operator of the tie-in facilities and Iraq
Turkey pipeline.
The June production figures due to be reported in July will include
both Tawke export volumes and local sales volumes.
DNO International ASA
22 June, 2009
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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