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«Dana Gas» UAE calls for Iraqi Kurdistan authorities B26.5 billion compensation DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

«Dana Gas» UAE calls for Iraqi Kurdistan authorities B26.5 billion compensation

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«Dana Gas» UAE calls for Iraqi Kurdistan authorities B26.5 billion compensation Empty «Dana Gas» UAE calls for Iraqi Kurdistan authorities B26.5 billion compensation

Post by RamblerNash Wed May 31, 2017 9:32 pm

«Dana Gas» UAE calls for Iraqi Kurdistan authorities B26.5 billion compensation

«Dana Gas» UAE calls for Iraqi Kurdistan authorities B26.5 billion compensation 31k6

Jun 01, 2017

New York - A: established the company «Dana Gas» UAE Energy and its partners filed a lawsuit before a US court to demand that the Iraqi Kurdistan Regional Government compensation amounting to 26.5 billion dollars , at least, due to delays in the implementation of projects in the field of oil and natural gas in the region.

According to Bloomberg economic news, the company «Dana Gas» and its partners in the company «Pearl Petroleum» established a compensation claim before a federal court in Washington , DC on May 12 / May last to demand and »to confirm and implement» an earlier decision of the court of commercial arbitration in London. The agency added that the case is part of a judicial process that could allow the company «Pearl Petroleum» Kurdish to confiscate property if the Kurdish government has not paid the amounts spent by the arbitration court.

For its part, the Ministry of Oil in the Kurdistan Regional Government said in a statement via e - mail, h n The government will continue to vigorously defend its position at all levels. The «Dana Gas» and its partners have resorted to the International Court of Arbitration in London against the Kurdistan Regional Government to demand compensation for the delay in the development of its projects in the region because of the government.

It produces «Dana Gas» most of its production of oil and gas in Iraq and Egypt.

Delay the payment of dues to both Egypt and the Kurdistan Regional Government has led to the detriment of their ability to invest and repay its creditors.

The arbitration of the London court issued a judgment in November / November 2015 in favor of «Pearl Petroleum» worth two billion dollars, as receivables late and disputed.

In January / January last court issued a ruling condemning the Kurdistan Regional Government of obstructing the work of the «Pearl Petroleum» in the development of its fields in the region, but said it needed more time to assess the extent of the damage and losses that must be compensated.

http://www.alquds.co.uk/?p=727395
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