Published 14 October 2016
The MENA region is the host of the largest natural oil and gas reserve in the world. More than half of the world's proven oil and gas reserves are located in this region. In 2014, the total value of the export of petroleum products from the countries in the MENA region was over US$800 billion. Despite having such large reserves, oil and gas arbitrations from the MENA region filed with the International Center for the Settlement of Investment Disputes (the "ICSID") represent less than 10% of the total caseload. This raises the question of how oil and gas disputes are resolved in the region.
The oil and gas industry uses myriad dispute resolution methods, such as litigation, mediation, and arbitration. Although traditional litigation remains the most common method, there is a noticeable trend in the oil and gas industry towards the resolution of disputes through mediation and arbitration.
Footnotes omitted from this introduction.
This paper will be part of the OGEL Special on "Energy Law and Policy in the Middle East and North Africa (MENA)".