African Petroleum brings in ICSID to address license disputes
African Petroleum has issued an update on its attempts to resolve issues impacting its licenses in two northwest African countries.
LONDON – African Petroleum has issued an update on its attempts to resolve issues impacting its licenses in two northwest African countries.
In Senegal, the company has a 90% interest in the Senegal Offshore Sud Profond (SOSP) and Rufisque Offshore Profond (ROP) production-sharing contracts.
Last January, the company lodged formal notices of dispute with the Senegalese authorities in respect of the PSCs, which led to the parties being given three months to resolve the disputes.
However, no resolution followed, and the company’s subsidiary African Petroleum Senegal has now lodged Request for Arbitration documents with the International Centre for the Settlement of Investment Disputes (ICSID) to protect its interests in the two blocks.
The company also notes recent media reports that Total has completed a seismic survey on the ROP block and plans to drill a well in 2019.
Offshore The Gambia, the company has 100% interests in theA1 and A4 licenses.
Here too it has initiated ICSID arbitration proceedings. The three original ICSID cases (ARB/17/38, ARB/17/39, and ARB/17/40) have now been consolidated into one ICSID case (ARB/17/38); and the tribunal for the case has been constituted.