Government must sign opponent’s PSA, court rules
Issue 340
- 16 Feb 2017
| 1 minute read
UN-sponsored Radio Okapi reported on 5 February that the International Court of Arbitration of the Paris-based International Chamber of Commerce had declared that the government’s cancellation of an exploration agreement with the local Générale Pétrolière du Congo (Gepeco) was “faulty, ineffective and unfounded”. Gepeco signed a memorandum of understanding (MoU) on 12 October 2011 for oil exploration in the Tanganyika Graben. The government cancelled the MoU without warning in April 2012, and Gepeco took the case to the court in November 2013.
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