DNO arrears24 Sep 2025 09:25
DNO’s exposure is unlike that of other international oil companies,” said Executive Chairman Bijan Mossavar-Rahmani. “As the largest producer in the region, the arrears owed to us by the KRG are significantly higher than those of others. That also means our risk of non-payment going forward is substantially greater.” He added that DNO has proposed “easy fixes” to Erbil that could resolve the issue swiftly.
In parallel, DNO and its joint venture partner Genel Energy International have ramped up spending to repair damage at the Tawke and Peshkabir fields caused by drone attacks in July 2025. Looking ahead, the company plans to drill eight new wells in the Tawke license in 2026, aiming to boost gross operated production to as much as 100,000 barrels per day.
Currently, DNO’s share of oil is sold on a cash-and-carry basis, transported by road tankers to local refineries at prices hovering in the low $30s per barrel.