Matter
Niko Resources (Bangladesh) Ltd. v. Bangladesh Oil Gas and Mineral Corporation (Petrobangla), Bangladesh Petroleum Exploration and Production Company Limited (Bapex) (ICSID Case No. ARB/10/18)
- 14 February 2011Arbitration
14 February 2011Arbitration
Procedural Order No. 1 dated 14 February 2011
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals adopted the procedural calendar for the jurisdictional phase.
Supporting details
International Centre for Settlement of Investment Disputes
7 months and 5 days later · 217 days
- 19 September 2011Arbitration
19 September 2011Arbitration
Procedural Order No. 2 dated 19 September 2011
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals authorised a supplemental counter-memorial on jurisdiction concerning the Compensation Declaration and set deadlines for the parties' responses.
Supporting details
International Centre for Settlement of Investment Disputes
1 year and 11 months later · 700 days
- 19 August 2013Arbitration
19 August 2013Arbitration
Decision on Jurisdiction dated 19 August 2013
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal accepted jurisdiction over Niko's Compensation Declaration and Cooperation Claim against BAPEX and over Niko's payment claim against Petrobangla, reserved specified questions, and declined jurisdiction over Bangladesh. Costs were reserved.
Supporting details
8 participantsNiko Resources (Bangladesh) Ltd.
Bangladesh Petroleum Exploration & Production Company Limited
Bangladesh Oil Gas and Mineral Corporation
People's Republic of Bangladesh
International Centre for Settlement of Investment Disputes
- Arbitrator
- Michael E. Schneider
- Arbitrator
- Campbell McLachlan
- Arbitrator
- Jan Paulsson
- Tribunal secretary
- Frauke Nitschke
2 months and 27 days later · 88 days
- 15 November 2013Arbitration
15 November 2013Arbitration
Procedural Order No. 3 dated 15 November 2013
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals confirmed the procedural calendar for the Payment Claim and Compensation Declaration.
Supporting details
International Centre for Settlement of Investment Disputes
2 months and 16 days later · 77 days
- 31 January 2014Arbitration
31 January 2014Arbitration
Procedural Order No. 4 dated 31 January 2014
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals prescribed the means of communication and filing requirements for submissions and written communications.
Supporting details
International Centre for Settlement of Investment Disputes
1 month and 3 days later · 34 days
- 6 March 2014Arbitration
6 March 2014Arbitration
Procedural Order No. 5 dated 6 March 2014
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued directions concerning the period before the hearing on Niko's request for provisional measures.
Supporting details
International Centre for Settlement of Investment Disputes
1 month and 25 days later · 56 days
- 1 May 2014Arbitration
1 May 2014Arbitration
Procedural Order No. 6 dated 1 May 2014
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued an order on provisional measures further to the parties' agreement and disposed of all pending requests for provisional measures.
Supporting details
International Centre for Settlement of Investment Disputes
4 months and 10 days later · 133 days
- 11 September 2014Arbitration
11 September 2014Arbitration
Decision on the Payment Claim dated 11 September 2014
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal decided that Petrobangla owed Niko USD 25,312,747 and BDT 139,988,337 for gas delivered, with simple interest on the invoices at the stated rates. The compound-interest and costs decisions were reserved.
Supporting details
2 participantsNiko Resources (Bangladesh) Ltd.
Bangladesh Oil Gas and Mineral Corporation
International Centre for Settlement of Investment Disputes
1 month and 6 days later · 36 days
- 17 October 2014Arbitration
17 October 2014Arbitration
Procedural Order No. 7 dated 17 October 2014
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals addressed the Compensation Declaration and provided for expert assistance and further procedural steps.
Supporting details
International Centre for Settlement of Investment Disputes
21 days later · 21 days
- 7 November 2014Arbitration
7 November 2014Arbitration
Procedural Order No. 8 dated 7 November 2014
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals set procedural arrangements following Procedural Order No. 7, including consultation concerning tribunal-appointed experts.
Supporting details
International Centre for Settlement of Investment Disputes
24 days later · 24 days
- 1 December 2014Arbitration
1 December 2014Arbitration
Procedural Order No. 9 dated 1 December 2014
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals addressed Niko's request for measures implementing the Decision on the Payment Claim and directed further submissions.
Supporting details
International Centre for Settlement of Investment Disputes
5 months and 29 days later · 180 days
- 30 May 2015Arbitration
30 May 2015Arbitration
Procedural Order No. 10 dated 30 May 2015
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions for the ongoing Compensation Declaration phase.
Supporting details
International Centre for Settlement of Investment Disputes
2 months and 20 days later · 81 days
- 19 August 2015Arbitration
19 August 2015Arbitration
Procedural Order No. 11 dated 19 August 2015
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued directions concerning the expert evidence and procedure for the Compensation Declaration.
Supporting details
International Centre for Settlement of Investment Disputes
26 days later · 26 days
- 14 September 2015Arbitration
14 September 2015Arbitration
Decision on Implementation of the Decision on the Payment Claim dated 14 September 2015
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals directed Petrobangla to pay the principal and stated interest into an escrow account, specified release conditions, and continued the stated interest obligations until payment or release.
Supporting details
2 participantsNiko Resources (Bangladesh) Ltd.
Bangladesh Oil Gas and Mineral Corporation
International Centre for Settlement of Investment Disputes
1 month and 7 days later · 37 days
- 21 October 2015Arbitration
21 October 2015Arbitration
Procedural Order No. 12 dated 21 October 2015
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions for the Compensation Declaration phase.
Supporting details
International Centre for Settlement of Investment Disputes
7 months and 5 days later · 218 days
- 26 May 2016Arbitration
26 May 2016Arbitration
Procedural Order No. 13 dated 26 May 2016
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions following the Third Decision on the Payment Claim.
Supporting details
International Centre for Settlement of Investment Disputes
- 26 May 2016Arbitration
26 May 2016Arbitration
Third Decision on the Payment Claim dated 26 May 2016
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals ordered Petrobangla to pay Niko USD 25,312,747 and BDT 139,988,337, plus the stated interest, immediately and without restrictions, and remained seized of the matter until final settlement.
Supporting details
2 participantsNiko Resources (Bangladesh) Ltd.
Bangladesh Oil Gas and Mineral Corporation
International Centre for Settlement of Investment Disputes
1 month and 23 days later · 54 days
- 19 July 2016Arbitration
19 July 2016Arbitration
Decision Pertaining to the Exclusivity of the Tribunal's Jurisdiction dated 19 July 2016
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals clarified that their subject-matter jurisdiction was exclusive for the identified issues, ordered BAPEX and Petrobangla to inform courts and authorities in Bangladesh of that jurisdiction and Bangladesh's related obligations, and directed them to take steps to terminate conflicting proceedings and orders.
Supporting details
International Centre for Settlement of Investment Disputes
10 days later · 10 days
- 29 July 2016Arbitration
29 July 2016Arbitration
Procedural Order No. 14 dated 29 July 2016
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions for the continuation of the arbitrations.
Supporting details
International Centre for Settlement of Investment Disputes
2 months and 8 days later · 70 days
- 7 October 2016Arbitration
7 October 2016Arbitration
Procedural Order No. 15 dated 7 October 2016
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions concerning the evidentiary and merits phases.
Supporting details
International Centre for Settlement of Investment Disputes
1 month and 7 days later · 38 days
- 14 November 2016Arbitration
14 November 2016Arbitration
Procedural Order No. 16 dated 14 November 2016
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions concerning the parties' submissions and evidence.
Supporting details
International Centre for Settlement of Investment Disputes
1 month and 28 days later · 58 days
- 11 January 2017Arbitration
11 January 2017Arbitration
Procedural Order No. 17 dated 11 January 2017
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions for the proceedings.
Supporting details
International Centre for Settlement of Investment Disputes
2 months and 12 days later · 71 days
- 23 March 2017Arbitration
23 March 2017Arbitration
Procedural Order No. 18 dated 23 March 2017
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions concerning the ongoing claims and evidence.
Supporting details
International Centre for Settlement of Investment Disputes
23 days later · 23 days
- 15 April 2017Arbitration
15 April 2017Arbitration
Procedural Order No. 19 dated 15 April 2017
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions for the next stage of the proceedings.
Supporting details
International Centre for Settlement of Investment Disputes
1 month and 2 days later · 32 days
- 17 May 2017Arbitration
17 May 2017Arbitration
Procedural Order No. 20 dated 17 May 2017
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions concerning the claims and hearing procedure.
Supporting details
International Centre for Settlement of Investment Disputes
18 days later · 18 days
- 4 June 2017Arbitration
4 June 2017Arbitration
Procedural Order No. 21 dated 4 June 2017
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions for the arbitration.
Supporting details
International Centre for Settlement of Investment Disputes
1 month and 23 days later · 53 days
- 27 July 2017Arbitration
27 July 2017Arbitration
Procedural Order No. 22 dated 27 July 2017
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions concerning the Compensation Declaration proceedings.
Supporting details
International Centre for Settlement of Investment Disputes
1 year, 6 months and 29 days later · 578 days
- 25 February 2019Arbitration
25 February 2019Arbitration
Decision on the Corruption Claim dated 25 February 2019
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals denied the Respondents' requested declarations, rejected their jurisdictional objections, found that the JVA and GPSA were not procured by corruption and remained valid and binding, and reserved the blowout-liability, damages, and costs issues.
Supporting details
International Centre for Settlement of Investment Disputes
2 months and 29 days later · 88 days
- 24 May 2019Arbitration
24 May 2019Arbitration
Procedural Order No. 23 dated 24 May 2019
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions following the Decision on the Corruption Claim.
Supporting details
International Centre for Settlement of Investment Disputes
9 months and 4 days later · 280 days
- 28 February 2020Arbitration
28 February 2020Arbitration
Decision on Liability dated 28 February 2020
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal determined that Niko's liability for the 2005 Chattak 2 blowout was governed by the JVA, that the first blowout resulted from Niko's breaches, that the second blowout did not result from a breach by Niko, and that Niko must compensate BAPEX for direct loss and damage from the first blowout. Further loss, damage, interest, and costs were reserved.
Supporting details
International Centre for Settlement of Investment Disputes
1 month and 6 days later · 35 days
- 3 April 2020Arbitration
3 April 2020Arbitration
Procedural Order No. 24 dated 3 April 2020
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals issued procedural directions for the quantification and remaining phases of the proceedings.
Supporting details
International Centre for Settlement of Investment Disputes
7 months and 12 days later · 226 days
- 15 November 2020Arbitration
15 November 2020Arbitration
Procedural Order No. 25 dated 15 November 2020
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals addressed procedural matters concerning document production, recoverable loss, and the remaining proceedings.
Supporting details
International Centre for Settlement of Investment Disputes
17 days later · 17 days
- 2 December 2020Arbitration
2 December 2020Arbitration
Procedural Order No. 26 dated 2 December 2020
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals ordered a schedule for requests and responses concerning production of documents and reserved unresolved requests for decision with the Decision on Heads of Recoverable Loss.
Supporting details
International Centre for Settlement of Investment Disputes
5 months and 16 days later · 167 days
- 18 May 2021Arbitration
18 May 2021Arbitration
Decision on Heads of Recoverable Loss dated 18 May 2021
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal identified recoverable heads of loss for BAPEX and the Government, denied non-recoverable heads and the request for advance payment, reserved specified issues and costs, and denied Niko's time-barred set-off claim.
Supporting details
3 participantsNiko Resources (Bangladesh) Ltd.
Bangladesh Petroleum Exploration & Production Company Limited
Bangladesh Oil Gas and Mineral Corporation
International Centre for Settlement of Investment Disputes
2 months and 12 days later · 73 days
- 30 July 2021Arbitration
30 July 2021Arbitration
Procedural Order No. 27 dated 30 July 2021
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals confirmed an updated procedural timetable, including submissions and the November 2021 hearing on the quantity of lost gas.
Supporting details
International Centre for Settlement of Investment Disputes
- 30 July 2021Arbitration
30 July 2021Arbitration
Procedural Order No. 28 dated 30 July 2021
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals decided the Respondents' document-production requests, treating withdrawn requests as withdrawn and directing production or addressing the remaining requests as stated in the order.
Supporting details
International Centre for Settlement of Investment Disputes
1 month and 25 days later · 56 days
- 24 September 2021Arbitration
24 September 2021Arbitration
Award dated 24 September 2021
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal confirmed its previous decisions, affirmed jurisdiction over Niko's Payment Claim and exclusive subject-matter jurisdiction for payment for gas delivered under the GPSA, found that the GPSA was not procured by corruption, and ordered Petrobangla to pay Niko USD 25,312,747 and BDT 139,988,337 plus stated interest. It also awarded Niko CAD 1,737,592 and USD 102,483 for legal fees and expenses, allocated the stated Arbitration Costs, and ordered Petrobangla to pay Niko USD 423,775.58 for the cost advances. All other claims and requests relating to the Payment Claim were denied.
Supporting details
3 participantsNiko Resources (Bangladesh) Ltd.
Bangladesh Petroleum Exploration & Production Company Limited
Bangladesh Oil Gas and Mineral Corporation
International Centre for Settlement of Investment Disputes
- 24 September 2021Arbitration
24 September 2021Arbitration
Procedural Order No. 29 dated 24 September 2021
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunals closed the proceedings in ICSID Case No. ARB/10/18 in accordance with ICSID Arbitration Rule 38(1).
Supporting details
International Centre for Settlement of Investment Disputes