Canadian company reports win in Pakistani gas dispute
A Canadian energy company says that an ICC tribunal has confirmed its ownership of a stake in two gas blocks in Pakistan – while also rejecting counterclaims worth US$483 million.
Calgary-based Jura Energy announced yesterday that its subsidiaries Spud Energy and Frontier Holdings have obtained a favourable award in one of two ICC cases they have filed against Petroleum Exploration (Private) Limited (PEL), part of Pakistan’s Shahzad International group.
According to Jura, an ICC tribunal declared that Frontier continues to hold 27.5% working interest in the Badin IV North and South gas blocks in southern Pakistan, and that PEL is not entitled to seek forfeiture of that stake.
The Jura subsidiaries were represented by Washington, DC-headquartered boutique Lewis Baach Kaufmann Middlemiss, whose partner Khurram Khan brought the case from his previous firm AC&H Legal Consultants earlier this year.
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