Norwegian independent DNO International has been shipping 100,000 b/d of Tawke oil through the Kurdistan Regional Government’s (KRG) independent oil pipeline to Turkey’s Ceyhan, where storage tanks are nearly filled to the brim. The company’s strategy as the biggest producer in the region is to unlock the impasse that has prevented exports to the international market and generate higher revenues for itself.
DNO Executive Chairman Bijan Mossavar-Rahmani said in presenting first quarter results on 8 May that the Tawke field, operated by DNO with a 55% stake, attained record production of 129,000 b/d in March and is on track to hit target 200,000 b/d output by end-2014. At the same time, export capacity is being expanded by a further 300,000 b/d, when a new 24-inch pipeline is completed alongside an existing 12-inch pipeline tied to the Kirkuk-Ceyhan pipeline system. (CONTINUED - 605 WORDS)
