Summary

Orca Energy Group Inc. announces that:

• its subsidiary, Pan African Energy Corporation (Mauritius) ("PAEM"), submitted a Request for Arbitration to the International Centre for Settlement of Investment Disputes ("ICSID"), an arm of the World Bank, against the United Republic of Tanzania ("Tanzania") for various breaches by Tanzania of the investment protections provisions of the Agreement on Promotion and Reciprocal Protection of Investment between the Government of the Republic of Mauritius and the Government of the United Republic of Tanzania (the "BIT"); and
• its subsidiary, PanAfrican Energy Tanzania Limited (Jersey) ("PAET"), submitted two separate Requests for Arbitration to ICSID against Tanzania and Tanzania Petroleum Development Corporation ("TPDC"), a petroleum corporation owned and controlled by Tanzania, for breaches of:
  1. the Production Sharing Agreement between the Government of Tanzania (the "GoT"), TPDC, and PAET dated October 11, 2001 (the "PSA"); and
  2. the Gas Agreement between the GoT, TPDC, Songas Limited ("Songas") and PAET dated October 11, 2001 (the "GA").

The three claims (the "Claims") arise out of a series of actions and omissions by Tanzania and TPDC that threaten the viability of the Songo Songo Gas-to-Electricity Project (the "Project") and breach multiple obligations under the BIT, the PSA and the GA.

...

Failing to extend the Songo Songo Development Licence (the "Licence"); Forcing continuation of the Protected Gas regime; Failing to pay royalties; Broader pattern of harassment.

• OGEL: Orca Energy Group Inc Announces $1.2 billion of Claims Against the United Republic of Tanzania and Tanzania Petroleum Development Corporation - Press release - 7 August 2024
• TDM: Orca Energy Group Inc Announces $1.2 billion of Claims Against the United Republic of Tanzania and Tanzania Petroleum Development Corporation - Press release - 7 August 2024