KRG Rejects Dana Gas Statement on Payments

By John Lee.

The Kurdistan Regional Government (KRG) has rejected a statement by Abu Dhabi-listed Dana Gas to the effect that the London Court of International Arbitration had awarded the company the right to receive some outstanding payments from the Kurdish government.

Dana Gas said on Sunday that its consortium with Crescent Petroleum and Pearl Petroleum had been successful in its application for interim measures, and that an order had been made for the KRG to restore the previous regular payments to the companies as of 21st March 2014, the date of the application, and until the case is concluded.

However, the KRG said on Wednesday that Dana Gas’s statement was “inaccurate and misleading”. Denying that any sums were outstanding to Dana, it added:

“Dana Gas has made public the Tribunal’s ruling regarding interim payments but has mischaracterised that ruling.

The KRG said it will continue vigorously to pursue its claims against Dana Gas.

(Sources: KRG, Dana Gas)

(Picture: Dana Gas operations in Iraqi Kurdistan)

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