Archive

Article length: 277 words

Angola, Cobalt seeks arbitration

Cobalt International Energy has filed two arbitration requests with the International Chamber of Commerce (ICC) in Paris seeking more than $2bn in compensation from Sonangol. In March 2017, Cobalt submitted a notice of dispute to Sonangol EP over the sale of the US company’s 40% holdings in blocks 20 and 21. In an operational update on 8 May, Cobalt said it had now filed a request for arbitration with the ICC against Sonangol EP for breach of the August 2015 purchase and sale agreement for the sale by Cobalt to Sonangol of the assets.

Go to full article

Credit value: 1

African Energy Gulf States Newsletter