Frontera Energy Says Guyana Violated Investment Treaty

Canadian oil company Frontera Energy on Friday said Guyana’s decision to cancel its license to operate in the offshore Corentyne block violates international law.

• On March 26, Frontera notified Guyana’s government of alleged breaches to the United Kingdom-Guyana bilateral investment treaty and the Guyana Investment Act, Chief Executive Officer Orlando Cabrales said during the company’s 1Q earnings conference call
• That notice initiated a three-month period for consultations and negotiations between the parties to resolve the dispute amicably: Cabrales
• If an agreement is not reached, Frontera and its other stakeholders are prepared to assert their legal rights: Cabrales
• Frontera Energy and ...