Sonatrach Wins Arbitration Against Medex

Monday, December 19, 2016

Sonatrach, the Algerian state-run oil and gas firm, came out the winner in an international arbitration case against Medex Petroleum North Africa. The case revolved around a contract disagreement concerning the Bourarhat North and Erg Issaouane fields.

The state-run firm filed the arbitration claim in 2015 in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL), to terminate contracts with Medex due to the latter’s failure in fulfilling its obligations regarding the exploration and development of two fields.

The ruling, which was decided on December 12, will allow for Sonatrach to regain complete control of the two fields.

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