Middle East Economic Survey


No 35



Verenex Ready To File Arbitration Claim Against Libya

Calgary-based Verenex on 25 August said that in accordance with the dispute mechanism under the EPSA contract it has with Libyas National Oil Corporation (NOC) for Area 47 it has finalized and is ready to file an arbitration claim against Libya should it become necessary to pursue this legal remedy. Verenex announced in February of this year that it had agreed to an offer of purchase...