Shalakany is pleased to announce that it successfully defended its Client, a prominent UAE service company in the Oil & Gas field in a CRCICA Arbitration case filed against it.
The dispute stems from a blowout incident which occurred while drilling oil wells in the Assal area, in South Sinai (Egypt). In this Arbitration, the opposing party claimed close to USD 20.6 million from our Client and other respondents. Not only did the Arbitral Tribunal reject all of opposing party’s claims but also ordered the latter to pay the entirety of the costs incurred by our Client.
The Shalakany team handling this arbitration is comprised of Adam Shalakany (Senior Partner), Muhammad Ussama (Partner), Nadine Nassef (Associate), Ragya Shoukry (Associate), and Mariam Adly (Associate).
Adam El Shalakany (Senior Partner) said: “We are happy to have secured this win for our client in this technically complex dispute.”
Muhammad Ussama (Partner), commented: “We are glad that we have managed to successfully defend our client’s position and to remove this significant exposure and potential liability from our client’s books.”
