Tunisia Arbitration Final Stage on Zenith Dispute

The article discusses the final stage of the arbitration procedures initiated by subsidiaries of the Canadian energy company Zenith against Tunisia, concerning their claims for compensation totaling up to $572.65 million. The second part of the written submissions was submitted on September 30, 2026, following hearing sessions in April 2026. Expectations indicate that the final ruling will be issued during the first quarter of 2027. The dispute dates back to June 2023 and relates to disagreements over oil concessions in Tunisia, particularly in the Sidi Kelayni and Zawia regions. Zenith has confirmed that its claims have increased due to obstacles and breaches it considers to have been caused by the Tunisian authorities. The ruling remains dependent on the outcome of the case review process and is among the most prominent investment arbitration disputes concerning oil exploration in Tunisia.

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