Petrotrin v A&V Oil - Statement regarding settlement agreement - 21 September 2021
Country
Year
2021
Summary
The Petroleum Company of Trinidad and Tobago advises the national community that it has settled the arbitration dispute between itself and A&V Oil and Gas Limited (AV Oil) avoiding the payment of millions of dollars in damages. As an indication of the cordial nature of the settlement, Heritage, the national Oil Company, is entering into an Enhanced Production Service Contract (EPSC) with AV Oil for the purchase of crude oil.