DNO Co. loses USD 32 million due to ontract with Kurdistan RegionG

(IraqiNews.com) The DNO Oil Norwegian Company announced that it has suffered lose of USD (30) million during 2012 due to its works in Iraqi Kurdistan Region.

The Norwegian Company reported in statement to IraqiNews.com on Friday ”The company will announce its losses after paying fees related to its agreement to share the production in Kurdistan Region and closing the pipeline in Jordan.”

The statement added that ”The contract which the company concluded with Kurdistan Regional Government and repairing a malfunction in the marine pipeline in Jordan will make the company loss about USD (32) million after acheiving profits reached USD (61,4) million.”

The Iraqi Federal Government opposed the agreement which Kurdistan Region concluded with the Norwegian Oil Company.

The Norwegian Company declared, on 24th of last July, that it has concluded permanent agreement with Kurdistan Region Government concerning the Oil payments.