African Petroleum renewed its threats to take Gambia to court over oil block disputes
Banjul, Sept 4 - African Petroleum Corp is threatening to court to resolve its dispute with Gambia, it said on Monday after the government stripped it of its rights to two offshore oil blocks which it held for years without doing much about them due to dictatorship until it expired. The company is threatening to sue due to alleged breached of contract due to non notification, according to it.
“It is a matter of regret that it has come to this; however, we are confident in our legal position,” CEO Jens Pace said in a statement posted on the company’s website.
“We have no choice but to take this case to arbitration.” (Reporting by Tim Cocks; Editing by David Goodman).
The Gambia government on the other hand has said that the contract ran out of its course and there is not need to notify of termination.
The A3 block held by the APCL is one of its largest expected findings in the subregion and huge loss to them as their shares came tumbling due to the action by the Gambia.