Diogo Xavier da Cunha Maputo, 1 st June 2005 CONTRACT STABILITY & DISPUTE RESOLUTION A couple of oil investment essentials. The Mozambican example. 9 th AFRICA OIL & GAS, TRADE & FINANCE CONFERENCE NOT AN OFFICIAL UNCTAD RECORD
Investors’ Typical Concerns The States’ Perspective Aiming for a Balanced Solution 1 st June 2005 Conflicting Interests
Changes in Industry Patterns Nationalism Ideological Hostility Contracts Made by Former Political Regimes 1 st June 2005 Historical Risks of Investment
Contract Stability Origin and Forms of Contract Instability Sovereignty v. Stability History & Purpose of the Stabilization Clause The Nature of Renegotiation Clauses The Adaptation Clauses The Force Majeure Clauses The Renegotiation Clauses 1 st June 2005
Dispute Resolution An Endless Source of Disputes The Duty to Negotiate The Formation of Lex Petrolea The Separability of the Arbitration Clause Recommendations Whilst Negotiating and Drafting an Arbitration Clause
Contract Stability under Mozambican Law Constitutional Law General Principles of Law – Article 437 of the Civil Code Petroleum Law Code of Fiscal Benefits Petroleum Production Tax Regulations 1 st June 2005 The Mozambican Example
Arbitration: A True Option Arbitration Law Petroleum Law Mozambique Party to Important International Conventions and Bilateral Treaties 1958 New York Convention on Recognition and Enforcement of Foreign Arbitral Awards 1 st June 2005 The Mozambican Example
Thank You Diogo Xavier da Cunha