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Dana Gas Kurdistan continue to demand compensation of up to $ 11 billion

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therealbubbie

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Dana Gas said it and two other companies are demanding the government of the Kurdistan region of Iraq for damages exceeding $ 11 billion, due mainly to what it deems a violation of their rights in the two fields the region.
She said Dana Gas, in a statement to the stock exchange, the jury will consider the claims and Crescent Petroleum and Pearl next year Petroleum, adding that Claims related to Bhakly Khor Mor and Chamchamal.
She added that the jury will also consider a lawsuit Kurdistan Regional Government the interview, which calls for the compensation of about three billion dollars.
In 2007, the Kurdistan Dana Gas awarded oil UAE's Crescent 25-year contract to develop gas fields Khor Mor and Chamchamal, at a time later acquired all of the Austrian OMV and Hungarian MOL to 10%.
But differences over the legal rights and because of allegations of non-payment of the full value of the supply of condensate and liquefied petroleum gas from the Khor Mor field delayed the project.
In the past week, said Dana Gas , said that the jury in London Kurdistan Regional Government has committed to pay $ 1.98 billion for the alliance of the company within 28 days. In its statement today, Dana said it had not received any funds from that rule them to their advantage until November 20.
In contrast, the provincial government said the statement Dana Gas "misleading" and did everything related to the file before the arbitral tribunal includes, noting that it is still continuing in lawsuits against The company demanding compensation for huge sums




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