Kurdistan’s Regional Government (KRG) has failed to pay $100 million to a Dana Gas consortium as instructed by a London arbitration court and the Abu Dhabi-listed firm on Monday said it had asked the court to enforce its earlier order.
Dana warned the KRG could face sanctions if the autonomous region failed to pay the money to its consortium, which includes Crescent Petroleum and Pearl Petroleum Co, according to a bourse filing.
In July, the KRG rejected a statement by Dana Gas that a London tribunal had awarded the company the right to receive some outstanding payments from the Kurdish government.
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