In July this year, we made public an arbitral award in the arbitration between Selan Exploration and the Ministry of Petroleum and Natural Gas (MoPNG). We had assured our readers that we would be bring a few such arbitral awards to the public domain considering their precedential and academic value.
In this second post in the series, we bring to the public domain the arbitral award in the disputeb between Great Eastern Energy Corporation Ltd. (Great Eastern) and the MoPNG. The central issue in the dispute was the quantum of signature bonus to be provided by Great Eastern to the MoPNG. The three member arbitral tribunal upheld the stance of the MoPNG and directed Great Eastern to pay the amount claimed with interest. The arbitral award can be accessed from the below link:
Great Eastern Energy Corporation Ltd. v. MoPNG
Great Eastern Energy Corporation Ltd. v. MoPNG
1 comment:
How does this Award create a precedent? Willit be accepred by another tribunal? Why?
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