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Zenith Energy Ltd on Friday said that the International Centre for Settlement of Investment Disputes announced the final timeframe for post-hearing briefs and the delivery of the final award for claims launched against Tunisia. The energy producer, explorer and developer said the claims by its subsidiaries are in the amount of around $572.7 million. Zenith Energy said the timeframe for part 1 of post-hearing written submissions is July 31, with part 2 having a timeframe of September 30. The tribunal award is estimated in the first quarter of 2027. Chief Executive Officer Andrea Cattaneo said: ‘This marks a significant milestone for the Zenith group. With the merits hearing now concluded and the International Centre for Settlement of Investment Disputes arbitration entering its final post-hearing phase, we are closer than ever to obtaining what we believe will be a substantial and fully enforceable award against the Republic of Tunisia.’ He added: ‘Since the conclusion of the hearing, we have also observed notable developments within the Republic of Tunisia, including changes in senior government personnel, most notably the departure of the minister of Hydrocarbons. While we do not speculate on the reasons for these developments, they are noteworthy in the broader context of these proceedings. ‘We remain highly confident in the strength of our case and we now look forward to the tribunal’s final decision, which we believe will appropriately recognise and compensate the claimants for the substantial losses they have suffered.’ The amount of around $572.7 million claimed by Zenith Energy reflects ‘various additional breaches and obstructions on the part of the Republic of Tunisia,’ the company said. Zenith Energy in 2024 alleged that the ‘the arbitrary behaviour of the Tunisian authorities’ lead to ‘unexplained obstructions in facilitating crude oil liftings’ and lost production revenue at the Sidi El Kilani concession. Zenith Energy shares fell 1.3% to 4.69 pence each on Friday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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