Tag Archives | Khor Mor

KRG, Pearl agreement to boost Electricity Generation

The Kurdistan Regional Government (KRG) and Pearl Petroleum have signed an agreement to increase production of gas from the Khor Mor field later this year, to boost much needed electricity generation for the people of the Kurdistan Region and Iraq as a whole. The 10-year gas sales agreement will enable gas production from Khor Mor […]

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Rosneft in the Kurdish Region: Moscow’s Balancing Act

By Ahmed Tabaqchali. Originally published by Iraq in Context; re-published by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Between February 2017 and mid-October, Rosneft signed a number of deals with the Kurdish Regional Government (KRG) that established for it, […]

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OMV Pockets $107m from KRG Settlement

By John Lee. Austria’s OMV has said its third-quarter clean operating result “was positively impacted” by about 90 million euro ($107 million) following a settlement over a dispute relating to the Khor Mor and Chemchemal fields in Iraqi Kurdistan. On August 30, 2017, the Kurdistan Regional Government (KRG) and Dana Gas , Crescent Petroleum and […]

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KRG to pay $1bn to Pearl in “Full and Final Settlement”

The Kurdistan Regional Government (KRG) will immediately pay $1 billion to the Pearl Consortium, including Dana Gas, and its partners to settle a long-running legal dispute. In a joint press release, the Kurdistan Regional Government and Pearl Consortium announced the “full and final settlement” between the two parties. Below is the full press release: Settlement […]

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Dana Gas claims victory in Kurdistan Dispute

By John Lee. UAE-based Dana Gas has said it had won a judgment against the Kurdistan Regional Government (KRG) at the London Court of International Arbitration (LCIA). The consortium of Dana Gas, Crescent Petroleum and Pearl Petroleum has been seeking to confirm its contract rights and obtain payment from the KRG for gas production. The company […]

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Dana Gas Kurdistan Production Falls

In its Q1 Financial Report, Dana Gas reports that its production has fallen 16 percent in Iraqi Kurdistan: KURDISTAN REGION OF IRAQ – RESERVES UPDATE As reported previously Dana Gas and Crescent Petroleum, joint operators of Pearl Petroleum Company Limited (“PPCL”), estimate that P50 total geologically risked resources of petroleum initially in-place (PIIP) of the […]

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Explosion Damages Gas Pipeline Near Kirkuk

By John Lee. An explosion on Friday has damaged a section of the pipeline that supplies gas for about half of the electricity generation in Iraqi Kurdistan. The KRG’s Interior Ministry said an investigation was underway to find the cause of the explosion near the district of Shwan. The pipeline feeds gas from the Khor […]

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Dana Gas ‘Still Waiting’ for $1.98bn from KRG

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. The court gave the Kurdistan Regional Government 28 days to pay […]

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Dana Gas Reaches Settlement With RWE

By John Lee. UAE-based Dana Gas has announced that it has reached an “amicable and mutually beneficial settlement agreement” with RWE’s trading unit RWE Suppy & Trading GmbH (RWEST) to resolve a dispute over its operations in Iraqi Kurdistan. The detailed terms of the settlement agreement are to be treated in accordance with the confidentiality […]

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Dana Gas Shares Rise on $2bn Iraq Judgement

By John Lee. Dana Gas has announced that the London Court of International Arbitration (LCIA) has ordered the Kurdistan Regional Government (KRG) to pay $1.98 billion to a consortium that it leads. In a statement to the Abu Dhabi stock exchange, the Sharjah-based company claims that the judgement is final, binding and internationally enforceable, and […]

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Dana Gas, KRG in Spat over Court Ruling

By John Lee. The Kurdistan Regional Government (KRG) has reacted angrily to a statement from Sharjah-based Dana Gas. Shares in the company jumped 13.7 percent on the Abu-Dhabi stock exchange on Sunday after the company won a ruling in the London Court of International Arbitration (LCIA) in its long-running dispute with the KRG in Iraq […]

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