Tuesday, 22 October 2013

UPDATE 1-UAE's Dana Gas consortium files case against Kurdish government | Reuters

UPDATE 1-UAE's Dana Gas consortium files case against Kurdish government | Reuters:

"The largest oil and gas investor in Iraqi Kurdistan has initiated the first major legal case against the regional government over payments and production rights, just as the autonomous enclave is on the cusp of becoming a major energy exporter.

Abu Dhabi-listed Dana Gas, leading a consortium of energy investors, has filed an arbitration case in London to clarify the amount of money they are owed for work already carried out in the area and on their rights to develop and market gas fields, the company said on Tuesday.

The Kurdish Regional Government is due to start its first crude oil exports via a new pipeline by end-2013, bolstering its long search for independence as it will soon earn more from its exports than it receives from the central government in Baghdad."

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