Dana Gas Reiterates Kurdistan Payment Challenges

News: UAE-based natural gas company Dana Gas has announced that it stands by its statements on unpaid invoices in the Kurdistan region of Iraq, reports Zawya News, citing Dana Gas' CEO Patrick Allman-Ward. The company had earlier stated that the governments of Egypt and Kurdistan owed US$720mn to the company for the natural gas it produced in the two countries, Allman-Ward said. In Egypt, US$290mn has been invoiced, of which US$210mn is overdue, Allman-Ward added. While in Kurdistan, US$430mn has been invoiced, with overdue payment amounting to US$390mn, Allman-Ward mentioned.

This article is tagged to:
Sector: Oil & Gas
Geography: Iraq, United Arab Emirates, Egypt

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