Libyan American Oil Company (LIAMCO) v Government of the Libyan Arab Republic
Year (case):
1977Year (treaty):
19551973
1974
Time period:
1950-2000Jurisdiction/region:
North Africa
State/territory:
Libya
Document language:
English
Dispute resolution method:
Arbitration
Classification:
Investor-StateLegal instrument:
Contract
Presiding or sole arbitrator:
Sobhi Mahmassani (Lebanon)Nationality of arbitrator:
Lebanon
Citation:
Libyan American Oil Company (LIAMCO) v Government of the Libyan Arab Republic, Award, 12 April 1977 in Pieter Sanders (ed), ICCA Yearbook Commercial Arbitration vol VI (Kluwer Law International 1981) 89
Description:
This dispute concerns a Decree of 1974, which nationalized the rights in three concessions, granted by Libya in 1955 (amended in 1966) to explore and extract petroleum. The nationalisation was not found wrongful, but the claimants were considered entitled to compensation for the premature termination of the concessions.