Abu Dhabi-Mubasher: Dana Gas reached "an amicable and mutually beneficial settlement agreement" with RWEST regarding all claims and brought the arbitration to a close, according to a bourse filing on Sunday.
As per the agreement, the share of Dana Gas in the settlement will be 50% of those amounts and the other 50% will be for Crescent Petroleum
RWEST Middle East also joined the Pearl Petroleum consortium as a full partner for 10%.
As a result, Dana Gas’s share in the Pearl Petroleum Company will be reduced to 35% from 40%. Crescent Petroleum's shares will also decline to 35% instead of 40%. And each of RWEST, OMV and MOL will have 10% stake in Pearl Petroleum.
