Dana gas: 713 million dollars our dues in Kurdistan


Economy news Baghdad:

Dana gas announced, that late dues to the Kurdistan Iraq amounting to 713 million dollars.

The company said in a press release seen by "economy", she "received from Kurdistan, during the first quarter of the current year's $31 million; the equivalent of more than 100% of the amount owed, so the rest of the company's total outstanding receivables 713 million dollars.

She "will be receiving annual distributions also damages of UAE gas project over the anticipated operating and capital expenditure requirements," adding that she "did 10 years ago, except for the dividend distribution of 10 percent bonus shares in 2010.

She drew in her company, that "in the event that it fails to collect its dues in Kurdistan and Egypt, the company will need to provide monetary exchange on operations during the coming period."

In 2007 awarded Kurdistan Dana gas and Crescent petroleum UAE a 25-year contract to develop the Khor MOR gas field wegmgmal, and later acquired all of or or in the Austrian and Hungarian at the. 10%.

But disagreements on legal rights because of allegations of non-payment of the full value of the supply of condensate and liquefied petroleum gas from the Khor MOR field disrupted the project.