[Dana] UAE declares: KRG did not pay dues coalition warns of sanctions

Monday, December 1/15 December 2014 15:25



[Follow-where]

Dana Gas said on Monday that "the Kurdistan Regional Government did not pay for the coalition of oil to $ 100 million as a court in London."

She energy company listed on the Abu Dhabi it "will ask the court to execute the command."

UAE company warned in a statement, "the Kurdistan Regional Government that it will face sanctions if the money was not paid to the coalition - which includes Crescent Petroleum Company and Pearl Petroleum Mahdodh- according to the notice of the Stock Exchange."

The Kurdistan Regional Government rejected last July statement from Dana Gas - operating in Alakulaim- ensure that a London court to grant the UAE company the right to receive some dues from the Government of the region.

The work of Dana Gas in Kurdistan region of Iraq since April 2007, when it entered into agreements with the Government of the Territory for the development of gas resources.

It owns Dana Gas shares in Kurdistan through its contribution to 40% in Pearl Petroleum Co. Ltd., in partnership with Crescent Petroleum, which owns a 40% stake are other, Inc. or M in which the share has increased by 10%, and the parent company AOL, which owns 10% stake.

The company was the United Arab Emirates and the coalition may cost the development, processing and transportation of natural gas from the Khor Mor field, as well as to evaluate the potential of the ridge gas field in order to provide natural gas supplies for the operation of electric power near Erbil and Sulaimaniya power plants, which currently supplies about 4 million Iraqi electric power, has provided This project is on the Kurdistan Regional Government need to use diesel fuel to run power plants, with cost savings in time Math.


http://www.alliraqnews.com/2014-06-14-07-34-14/159689-2014-12-15-12-25-47.html