By John Lee.
Bloomberg reports that Dana Gas PJSC is still waiting for payment of the $1.98 billion that it and two other energy companies — Crescent Petroleum and Pearl Petroleum — were awarded by the London Court of International Arbitration (LCIA) in November.
Patrick Allman-Ward, CEO of the Sharjah-based company, told Bloomberg he did not expect to be paid all in one go, and is open to getting paid over time.
The claims relate to payment for production at the Khor Mor and Chemchamal gas fields.
(Source: Bloomberg Business)