Abu Dhabi – Mubasher: A UK court issued a ruling obliging the Iraqi Kurdistan’s government to pay an amount of $1.9 billion to a consortium including Dana Gas, according to a statement on Sunday.
The second verdict favouring Dana’s consortium, which includes Crescent Petroleum and Pearl Petroleum Company Limited, stipulates that the amount will be paid within 28 days, the Emirati company said.
The amount covers the quantities of condensate and liquefied gas delivered to KRG until June 30, 2015 by the consortium, according to the prices approved by the arbitral tribunal earlier.
The court released its first decision on October 17, 2014, which obligated KRG to pay $100 million to Dana gas within two weeks.
