Dana Gas says KRG owes consortium members $11bn

Case will be heard next year, with KRG claiming it is owed $3bn

Dana Gas, NEWS, Onshore, Exploration & Production

Dana Gas has claimed that the Kurdistan Regional Government (KRG) owes the company and two other consortium members more than $11bn.

The consortium is made up by Dana, Crescent Petroleum and Pearl Petroleum, whose claim will be heard at an arbitration hearing planned for next year,

The fields that are involved in the claim are Khor Mor and Chemchemal.

The KRG's counter-claim for more than $3bn would also be heard at the arbitration session.

Last week, the London Court of International Arbitration ordered the KRG to pay $1.98bn to the consortium, with the payment to be made within 28 days.

However, Dana Gas said it has not received any funds to date.

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