LONDON – African Petroleum’s subsidiaries African Petroleum Gambia Ltd. and APCL Gambia have lodged requests for arbitration (RFA) documents with the International Centre for the Settlement of Investment Disputes (ICSID).
The company says it is seeking to protect its interests in theA1 and A4 licenses offshore The Gambia, and that the ICSID has registered the RFAs and allocated case numbers.
African Petroleum is seeking clarification from the Gambian government on the future status of the permits.
CEO Jens Pace said: “We believe arbitration is necessary to protect our interests in these licenses in which we have made significant investment over the years.
“Despite the formal commencement of this process, we reiterate that we remain wholly open to engaging in constructive dialogue with the Gambian authorities with a view to establishing a satisfactory solution that is in the interest of all parties.”