Dana Gas discloses details of Iraqi energy tribunal

Feb. 3, 2014 at 7:47 AM

SHARJAH, United Arab Emirates, Feb. 3 (UPI) -- Emirati energy company Dana Gas disclosed it was seeking confirmation of its rights under energy deals with the Kurdish government in Iraq at a London tribunal.

Dana Gas disclosed Sunday it filed a case at the London Court of International Arbitration alongside Crescent Petroleum and Pearl Petroleum Co. Ltd.

The company said it filed the arbitration case in order to settle "payment of outstanding receivables owed to it by the KRG's Ministry of Natural Resources."

Dana said it is challenging a counterclaim made by the semiautonomous Kurdish government regarding the payments.

The company said it was committed to its engagement with the Kurdistan Regional Government, adding it hopes "all outstanding matters with the MNR will be resolved, amicably and in good faith, in the shortest possible time."

The Kurdish government is at odds with the central government in Baghdad regarding who controls what aspects of the nation's energy sector. The central government says unilateral deals made with the KRG violate national laws.

There was no statement from the KRG on the tribunal.

Related UPI Stories
Latest Headlines
Trending Stories
House Majority Leader Kevin McCarthy drops bid for speaker
WikiLeaks offering $50K for video of Afghan hospital bombing
Murdoch sorry for implying Obama's not a 'real black president'
Reid sues exercise companies over eye injury
Lumber Liquidators to pay $10M in DOJ settlement