Billion-dollar payment boosts Kurdish gas sector

The Kurdistan Region of Iraq has solved two major disputes, freeing up capital to inject upstream
By James Gavin 7 September 2017
Drilling in the Miran field, Iraqi Kurdistan. A rig in the Miran field. (Genel Energy)

The Kurdistan Regional Government (KRG) expects momentum to return to the Kurdish gas sector following a landmark deal settling a long-running arbitration case with United Arab Emirates-based Dana Gas and an agreement on unpaid receivables with Turkey’s Genel Energy, developer of the Miran and Bina Bawi gas fields.

Under a deal announced on 30 August, the KRG paid $1 billion to its partners in the Pearl Petroleum consortium (which includes Dana Gas as well as Crescent Petroleum, OMV, RWE and MOL). 

Of this, $400 million will be...

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