Zenith Energy Ltd. has announced the completion of the final hearings in the ICC-2 Arbitration against the Republic of Tunisia concerning the Sidi El Kilani concession.
The arbitration was initiated by Zenith’s subsidiary, Canadian North Africa Oil and Gas Limited, due to alleged arbitrary actions by Tunisia that led to the termination of the SLK concession, recalls TipRanks.
Zenith is seeking approximately US$130 million in claims for lost production revenue and other “breaches.”
The decision from the ICC Arbitral Tribunal is expected by the end of summer 2025.
