KRG Ministry of Natural Resources

Update to Statement Regarding Dana Gas - Third Partial Final Award dated 30 January 2017

Updated 15 February 2017

Further to yesterday's statement that the Ministry of Natural Resources published regarding a Dana Gas arbitration award, today we issue the following addendum to the statement:

In addition, the KRG confirms that the tribunal has not found that that the KRG has significant liabilities to Dana pursuant to the Strategic Alliance Protocol entered into between the KRG and Dana and another in April 2007 and which the KRG terminated in May 2009 (the SAP).

Dana’s press release omits to state that although the Claimants attempted to argue that the KRG’s termination of the SAP was wrongful and the Claimants were entitled to damages arising from the failure to build the “Kurdistan Gas City” as envisaged in the SAP, the Claimants abandoned this claim, which was entirely without basis.

The tribunal did not award damages against the KRG in respect of the SAP.

Please click here to read the main statement.