Dispute Over East Ghazalat Goes to Arbitration

Tuesday, May 8, 2018

Nostra Terra Oil and Gas Company has announced that a dispute between its subsidiary and North Petroleum over the East Ghazalat concession in Egypt has been referred to arbitration, according to a Morning Star report.

North Petroleum Company referred the dispute to the London Court of International Cooperation after talks between the two companies broke down.

Sahara Petroleum, a subsidiary of Nostra Terra, believes that Chinese company North Petroleum has failed to commit to its agreement regarding the joint operation of the concession.

Sahara Petroleum owns a 50% stake in the East Ghazalat concession, which is operated by North Petroleum.

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