Abu Dhabi – Mubasher: Dana Gas and its partners are seeking damages of at least $26.5 billion from the Iraqi Kurdistan Region for delays in oil and natural gas projects, Bloomberg reported.
Dana and its partners in the venture, Pearl Petroleum, filed a petition on 12 May in a federal court in Washington. The petition is part of a legal process that may allow Pearl to seize Kurdish assets if the Kurds do not pay awards decided in arbitration.
The partners are pursuing claims in the London Court of International Arbitration against the Kurdistan Regional Government (KRG) for damages from the delays they say were caused by the KRG in developing the projects.
