Abu Dhabi-Mubasher: The remaining claims of consortium comprised of Dana Gas, Crescent Petroleum and Pearl Petroleum Co. estimated at over $11 billion principally for wrongful interference with their long term rights over the Khor Mor and Chemchemal fields, according to a bourse filing on Tuesday.
The UAE energy firm clarified that the London Court of International Arbitration issued on 27 November 2015 a second partial final award ordering the KRG pay to the consortium within 28 days the sum of $1.98 billion for outstanding unpaid invoices for the produced condensate and LPG up until 30 June.
The pricing methodology is already determined previously by the tribunal.
The Second Award is binding and internationally enforceable, and does not depend upon the further hearings of claims and counter-claims by the parties to the arbitration.
