India Arbitration Update

Source Press Release
Company Cairn Energy Plc 
Tags Strategy - Corporate
Date July 21, 2020

Cairn is announcing an update on its proceedings against the Government of India under the UK-India Bilateral Investment Treaty.

The Arbitral Tribunal has indicated that, whilst it has encountered some difficulties created by the Covid-19 pandemic, it does not expect significant delays and hopes to remain reasonably within the lead-time it had anticipated. Whilst it is not yet able to commit to a specific date for its ruling, it expects a "release of the Award after the end of the summer."

Cairn continues to have a high level of confidence in the arbitration and is seeking full restitution for losses of more than US$1.4 billion.

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