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Dana Gas earn a lawsuit against the Kurdistan region $ 1.9 billion suit
Sun, 05 Jul two thousand and fifteen
BAGHDAD - News today
confirmed Dana Gas, on Sunday, she got a judgment in its favor of an arbitral tribunal in London in its dispute with Iraq's Kurdistan Regional Government. And Dana Gas, listed on the Abu Dhabi stock exchange of the largest oil and gas companies investing in Iraqi Kurdistan.
Dana, which leads the consortium, filed before the London Court of International Arbitration in October 2013 to issue an arbitration decision binding emphasizes the exclusive rights to the consortium under the contract with the Kurdistan region and for the amounts due for production.
said Dana Gas, in a statement issued on Sunday, that in the second of July, "the arbitral tribunal Court London Court of International Arbitration issued a partial final which confirms beyond a shadow of doubt over the contractual rights to the coalition of companies verdict. "
She added that the arbitral tribunal confirmed the exclusive rights and long-term for companies in the development and production of oil and gas from the fields Kurmur and Chamchamal for the duration of the contract which not less than 25 years old and already the dispute on them by the Kurdistan Regional Government since 2009 which prevented the development of these fields properly at the right time.
The statement said that the tribunal confirmed "the Government of the Kurdistan contractual obligation to pay for the consortium for what was produced of condensate and liquefied petroleum gas in accordance with international prices.
"As the jury determine session on 21 September 2015 to hear the claim consortium against the Kurdistan Regional Government on the amounts that have not been paid and payable in respect of the production of condensate and liquefied petroleum gas, which is currently estimated at a total value of $ 1.943 billion as of the end of May 2015. "It was not possible to get immediate comment from the Kurdistan Regional Government.
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Sun, 05 Jul two thousand and fifteen
BAGHDAD - News today
confirmed Dana Gas, on Sunday, she got a judgment in its favor of an arbitral tribunal in London in its dispute with Iraq's Kurdistan Regional Government. And Dana Gas, listed on the Abu Dhabi stock exchange of the largest oil and gas companies investing in Iraqi Kurdistan.
Dana, which leads the consortium, filed before the London Court of International Arbitration in October 2013 to issue an arbitration decision binding emphasizes the exclusive rights to the consortium under the contract with the Kurdistan region and for the amounts due for production.
said Dana Gas, in a statement issued on Sunday, that in the second of July, "the arbitral tribunal Court London Court of International Arbitration issued a partial final which confirms beyond a shadow of doubt over the contractual rights to the coalition of companies verdict. "
She added that the arbitral tribunal confirmed the exclusive rights and long-term for companies in the development and production of oil and gas from the fields Kurmur and Chamchamal for the duration of the contract which not less than 25 years old and already the dispute on them by the Kurdistan Regional Government since 2009 which prevented the development of these fields properly at the right time.
The statement said that the tribunal confirmed "the Government of the Kurdistan contractual obligation to pay for the consortium for what was produced of condensate and liquefied petroleum gas in accordance with international prices.
"As the jury determine session on 21 September 2015 to hear the claim consortium against the Kurdistan Regional Government on the amounts that have not been paid and payable in respect of the production of condensate and liquefied petroleum gas, which is currently estimated at a total value of $ 1.943 billion as of the end of May 2015. "It was not possible to get immediate comment from the Kurdistan Regional Government.
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