Dispute concerning termination of exploration licenses offshore West Africa

A CRA expert was appointed to act as the expert witness on behalf of the respondent in an ICSID dispute regarding the termination of oil exploration and development licences offshore West Africa. They provided expert reports assessing the analysis of the fair market value of the licences relied on in the claimant’s assessment of damages. An alternative valuation was put forward relying on comparable transactions in the same basin, adjusted to take into account significant differences in terms and timing.