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Pearl Petroleum Dismisses Kurdistan Regional Government's Contract Breach Allegation

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Pearl Petroleum rebuffs allegations of contractual violation from Iraq's Kurdistan Regional Government, the consortium's joint operators Dana Gas (ADX:DANA) and Emirati upstream oil and gas company Crescent Petroleum said Aug. 7.

The allegations follow Pearl Petroleum's agreement to supply gas to the Federal Ministry of Electricity in Kirkuk, Iraq.

Pearl Petroleum continues to fully meet its obligation to provide 655 million standard cubic feet per day of gas to the government, even though it has been behind on its payments for years. The sale of 100 million standard cubic feet per day of gas to the ministry is from Pearl Petroleum's excess capacity at Khor Mor, the consortium noted.

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