---
title: "Zenith Energy Ltd (LON:ZEN) Final hearings of ICC-2 Arbitration"
publisher: "Share Talk"
author: "sharetalk"
published: "2025-02-20T09:50:54+00:00"
modified: "2025-02-20T09:50:54+00:00"
date: 2025-02-20
canonical: "https://www.share-talk.com/zenith-energy-ltd-lonzen-final-hearings-of-icc-2-arbitration/"
category: "Energy"
categories: ["Energy"]
tags: ["Andrea Cattaneo", "Congo SA", "Hydrocarbons", "Republic of the Congo", "ZEN", "Zenith Energy Ltd"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/02/Image-2024-12-27-at-7.56.50-AM-750x406-1-1.webp?fit=750%2C406&ssl=1"
format: "news"
language: "en-GB"
---

# Zenith Energy Ltd (LON:ZEN) Final hearings of ICC-2 Arbitration

**Published:** February 20, 2025
**Author:** sharetalk
**Categories:** Energy
**Tags:** Andrea Cattaneo, Congo SA, Hydrocarbons, Republic of the Congo, ZEN, Zenith Energy Ltd
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/02/Image-2024-12-27-at-7.56.50-AM-750x406-1-1.webp?fit=750%2C406&ssl=1)

---

**Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; OTC PINK: ZENAF),** the listed international energy production and development company, is pleased to announce that the pre-hearing session of the ICC-2 Arbitration regarding the Sidi El Kilani concession (“SLK Concession”) against the Republic of Tunisia (“ICC-2 Arbitration”) has now been held, and to confirm that the final hearings of the ICC-2 Arbitration will be held next week.

**Background**Zenith’s fully owned subsidiary, Canadian North Africa Oil and Gas Limited (“CNAOG”) initiated the ICC-2 Arbitration against the Republic of Tunisia, as announced in December 2023, following a series of arbitrary actions and obstructions undertaken by the Republic of Tunisia, leading to the arbitrary termination of the SLK concession.

**Inter alia, these included:**

·    CNAOG’s lost production revenue and associated profitability, during a period of high energy prices, from the SLK Concession until its initial expiry in December 2022.

·    The volume of crude oil produced from the SLK Concession and allocated to and received by CNAOG upon the completion of the acquisition.

·    Unpaid invoices for oil production by ETAP, the national oil company of Tunisia.

·    The value of the 45% interest in the renewal of the SLK Concession, representing a breach of CNAOG’s right to renew its previously existing 22.5% interest in SLK, as well as the 22.5% interest held by Kuwait Foreign Petroleum Exploration Company, which relinquished its interest in the SLK Concession before its initial expiry.

CNAOG has filed claims in the amount of approximately US$130 million following calculations made by third-party experts.

**Procedural Timeline**

Following the pre-hearing session of the ICC-2 Arbitral Tribunal, the procedural timeline has been finalised.

The final hearings of the ICC-2 Arbitration are scheduled to take place during the week commencing February 24, 2025.

**Andrea Cattaneo, Chief Executive Officer, commented:   **

“We are pleased that the final hearings of the ICC-2 Arbitration are to be held during the course of next week. 

Our primary objective remains to achieve legal redress for the very significant damages caused to CNAOG.”

Further Information:

|   |   |
| --- | --- |
| Zenith Energy Ltd Andrea Cattaneo, Chief Executive Officer |     Tel: +1 (587) 315 1279   E:        [info@zenithenergy.ca](mailto:info@zenithenergy.ca) |

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