Niko Resources (Bangladesh) Ltd. v. Bangladesh Petroleum Exploration & Production Company Limited ("Bapex") and Bangladesh Oil Gas and Mineral Corporation ("Petrobangla"), ICSID Case No. ARB/10/11
Short Name:
Niko Resources v. Bapex and Petrobangla
Country in which this occurs:
Bangladesh
Applicable arbitration rules:
Seat of Arbitration:
Investment treaty:
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Economic sector:
Outcome:
Amount of damages:
US $14,549,385
Other remedy:
The Tribunal ordered Niko to compensate BAPEX for direct loss and damage from the first blowout, including lost gas, carbon sequestration costs, and local population losses.
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Case Summary