OSLO (Thomson Financial) - DNO ASA said it is expecting the first export of oil from its Tawke field in Northern Iraq in November this year, assuming it secures the relevant permission from authorities in the region.
Speaking after the release of its second quarter results, DNO said it is aiming to begin the export of oil into Turkey via pipeline from November.
The Kurdistan Petroleum Law was ratified by the region's parliament in August, and DNO said it expects the federal law to be approved in September.
According to this schedule, he said, exports could begin the following month.
Due to the political situation in Iraq, DNO is currently being forced to sell its oil in the local market. alastair.reed@thomson.com ar/cm2 COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.