Summary

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V. OPERATIVE PART

For the foregoing reasons, the Tribunal:

i. Declares that the Republic of Ghana breached the Petroleum Agreement by issuing the Unitisation Directives in the circumstances in which they were issued;

ii. Declares that each Party shall bear its own costs;

iii. Orders the Republic of Ghana to pay to Eni Ghana Exploration and Production Limited and to Vitol Upstream Ghana Limited EUR 189,900 for the costs of the Tribunal and SCC;

iv. Dismisses all other requests for relief.

A Party may challenge this Award pursuant to Section 34 of the Swedish Arbitration Act (Swedish Code of Statutes SFS 1999:116, updated by SFS 2018:1954) within two months of receipt.

Pursuant to Section 41 of the Swedish Arbitration Act, a Party may bring an action against the award regarding the decision on the fee(s) of the arbitrator(s) within two months from the date when the Party received the award. Such action should be brought before the Stockholm District Court.