South African Entity Seeks To Confirm $619M Award For Congo Oil Contract Breach

Mealey's (May 5, 2020, 1:16 PM EDT) -- WASHINGTON, D.C. — A South African exploration company on April 30 filed a petition in District of Columbia federal court to confirm a more than $619 million arbitral award issued against the Democratic Republic of Congo (DRC) for breaching the parties’ hydrocarbon discovery and exploitation contracts, which prevented the company from producing under the contracts (DIGOIL v. Democratic Republic of Congo, No. 20-1130, D. D.C.)....