Sunny Hill Energy Limited reaches settlement with Egyptian government and sells its Egyptian oil & gas assets
10 September 2020
Sunny Hill Energy Limited announces the settlement of the disputes with the Government of Egypt and EGPC (the state oil and gas company) regarding lack of payment for past production and related matters. Consequently, arbitration proceedings before the World Bank managed International Centre for Settlement of Investment Disputes and the Cairo Arbitration Court are being withdrawn. As part of an overall agreement, Sunny Hill Energy Limited has now completed the sale of its Egyptian oil and gas assets to EGPC for an undisclosed sum.
For further information in relation to this announcement please contact:
Peter Wilson, General Counsel
Sunny Hill Energy Limited
Tel: +44 20 7925 3200
Email:
peter.wilson@sunnyhillenergy.com
Website:
www.sunnyhillenergy.com 