Latest development Dec 18, 2025
In the parallel case (ICSID ARB/10/11) the tribunal ordered Niko’s subsidiary to pay Bapex only a small share of the roughly $800M sought over a gas field blowout.
The award
- Amount awarded
- About $43M (GAR)
- Award holder
- Niko Resources (Bangladesh) Ltd. (subsidiary of Canada’s Niko Resources)
- Respondent
- Bangladesh Oil Gas and Mineral Corporation (Petrobangla) and Bangladesh Petroleum Exploration and Production Company (Bapex), state-owned
- Forum
- ICSID ARB/10/18 · payment claim for gas deliveries
Challenges
An ICSID ad hoc committee rejected Petrobangla and Bapex’s annulment application on October 12, 2023. One committee member dissented.
Enforcement
None reported.
Recovered to date
None reported
Notes
Payment not verified. The December 2025 award in Bapex’s favor in the parallel case may be set off against this award. Exact amount and interest not checked against the award.