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New E&P contracts-II: It will be a one-way street for dispute resolution
May 17:
Dispute resolution under the new E&P contracts is going to be a one-way street.
8If a resolution between the government and the operator is not possible, then the unresolved difference or dispute shall be referred to arbitration of the sole arbitrator to be appointed only by the petroleum secretary on the recommendation of the law secretary.
8The provisions of Arbitration and Conciliation Act, 1996 (No. 26 of 1996) will be applicable only to any arbitration.
8The venue will no longer be a neutral place like London or Singapore but New Delhi instead.
Click on Reports for more
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8If a resolution between the government and the operator is not possible, then the unresolved difference or dispute shall be referred to arbitration of the sole arbitrator to be appointed only by the petroleum secretary on the recommendation of the law secretary.
8The provisions of Arbitration and Conciliation Act, 1996 (No. 26 of 1996) will be applicable only to any arbitration.
8The venue will no longer be a neutral place like London or Singapore but New Delhi instead.
Click on Reports for more
