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Dana Gas interactions {} with Kurdistan
Dubai - London - Reuters
Dana Gas said that the Kurdistan Regional Government did not pay $ 100 million as the court ordered in London, the energy company listed on the Abu Dhabi and said it would ask the court to execute the command.
The company said in a statement: "Application has been made for the English court to take what it takes to execute the command with the possibility of imposing sanctions on the Kurdistan Regional Government for non-compliance."
The case comes in the framework of billions of dollars in claims by the coalition led by Pearl Dana Gas in the arbitration process against the government of Kurdistan to Akhalalha contractual obligations.
The company said that it will be decided in this regard during the session in London, the tribunal ordered by holding them in April.
And raising the coalition, which also includes the UAE's Crescent Petroleum Company and the Austrian OMV and MOL group of oil and gas Hungarian international arbitration proceedings in London from October 2013 to confirm the contractual rights and obtain payments for production.
Watching the case closely and other companies operating in the Kurdistan region, which has attracted major international oil companies in the past years due to its reserves of untapped oil and gas, thanks to attractive production sharing contracts system.
Dana Gas said it has not received any significant payments from the Kurdistan Regional Government.
KRG rejected claims in an earlier time and said that Dana Gas statement about the court ruling in London misleading and the coalition, which is owed billions of dollars.
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Dubai - London - Reuters
Dana Gas said that the Kurdistan Regional Government did not pay $ 100 million as the court ordered in London, the energy company listed on the Abu Dhabi and said it would ask the court to execute the command.
The company said in a statement: "Application has been made for the English court to take what it takes to execute the command with the possibility of imposing sanctions on the Kurdistan Regional Government for non-compliance."
The case comes in the framework of billions of dollars in claims by the coalition led by Pearl Dana Gas in the arbitration process against the government of Kurdistan to Akhalalha contractual obligations.
The company said that it will be decided in this regard during the session in London, the tribunal ordered by holding them in April.
And raising the coalition, which also includes the UAE's Crescent Petroleum Company and the Austrian OMV and MOL group of oil and gas Hungarian international arbitration proceedings in London from October 2013 to confirm the contractual rights and obtain payments for production.
Watching the case closely and other companies operating in the Kurdistan region, which has attracted major international oil companies in the past years due to its reserves of untapped oil and gas, thanks to attractive production sharing contracts system.
Dana Gas said it has not received any significant payments from the Kurdistan Regional Government.
KRG rejected claims in an earlier time and said that Dana Gas statement about the court ruling in London misleading and the coalition, which is owed billions of dollars.
[You must be registered and logged in to see this link.]
