Iraqi Kurdistan: WesternZagros legal battle could prove costly


In depth
Issue 987 - 19 Feb 2015 | 6 minute read

WesternZagros Ltd (WZL), a Canadian company with stakes in Kurdistan’s Kurdamir and Garmian blocks, is being sued by a former consultant, Monde Petroleum (Monde), which says it was made to wrongfully terminate its consultancy agreement with WZL in 2007. Monde says that, as a result of the wrongful termination, it is owed both fees and potentially earnings from the 3% stake in WZL’s exploration and production-sharing agreements (EPSAs) that the consultancy agreement entitled it to. The details of the case – which could be worth more than $100m, by GSN’s calculations – emerged in a preliminary judgment from the UK High Court of Justice Queen’s Bench Division on 14 January.

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