Dana Gas denies it breached gas deal with authorities in Kurdistan region
Dana Gas and Crescent Petroleum, who operate gasfields in Iraq's Kurdistan region, denied accusations they breached an agreement with regional authorities by supplying gas to Iraq’s Electricity Ministry. The two companies acted in accordance with their “contractual rights and continue to respect its obligations in full”, Dana Gas said on Friday in a statement to the Abu Dhabi Securities Exchange,…
Dana Gas and Crescent Petroleum have denied accusations of breaching a gas deal with authorities in Iraq's Kurdistan region, stating they are operating in accordance with their contractual rights. The two companies assert that they have provided gas to Iraq’s Electricity Ministry without needing additional authorization or approval from the Kurdistan Regional Government (KRG).
Kurdish authorities, however, claim that Dana Gas and Crescent Petroleum supplied natural gas from the Khor Mor field to the Iraqi ministry without KRG approval, stating that the move was taken unilaterally and outside the contractual framework governing the Khor Mor project. Despite this dispute, Dana Gas maintains its commitment to its obligations and investments in the Kurdistan region, emphasizing that the gas supplies in question are from the company's excess capacity at the Khor Mor field and are in addition to the 655 MMscf/d already provided to the KRG for power stations.
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