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Kurdistan in US$3.8 billion settlements with Pearl Petroleum, DNO and Genel Energy

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31 August 2017

Kurdistan in US$3.8 billion settlements with Pearl Petroleum, DNO and Genel Energy

Report summary

The Kurdistan Regional Government (KRG) has now reached settlements for cash owed to Pearl Petroleum (US$2.2 billion), DNO (US$1.1 billion) and Genel Energy (US$500 million). The deals with DNO and Genel Energy were for unpaid oil revenues, while the Pearl Petroleum deal brings a long-running arbitration case to a close. This can be considered a win-win outcome and probably the best deal that could be expected.

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