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The Norwegian "DNO" is retracting its expectations for oil production from Iraqi Kurdistan
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Baghdad today - follow-up
Today, Thursday, the Norwegian oil company "DNO" canceled its expectations for production in the Kurdistan region of Iraq, after a halt to exports since March forced the company to stop production.
Turkey stopped pumping 450,000 barrels per day of Iraqi crude through the Iraqi-Turkish pipeline from the border region of Fishkhabour to the Turkish port of Ceyhan on March 25 after the Paris-based International Chamber of Commerce issued a ruling in an arbitration case in favor of Iraq.
Four days later, DNO announced the cessation of oil production from the Tawke and Bishkabir fields, which produced 107,000 barrels per day in total, in 2022, according to Reuters.
The Norwegian company said in a statement today, Thursday, that "exports will resume and payments will be regular for previous and current oil sales. DNO cannot provide any forecasts for Kurdistan's production for the whole year."
On April 18, the company said that it expects total production from Kurdistan to be less than 100,000 barrels per day, which it previously expected, after it announced recording production of 94.72 thousand barrels per day for the first quarter.
DNO owns a 75% stake in the Tawke and Bishkabir fields, while its partner, Genel Energy, owns 25%.
Baghdad and the Kurdistan Regional Government of Iraq signed an interim agreement on the fourth of last April to resume oil exports from Turkey, but the two sides have not yet defined many aspects of the agreement.
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