Niko to compensate Bangladesh over Chattak gas field blowout

Bangladesh has won an arbitration lawsuit against Niko Resources (Niko) as an international court has found the Canadian company responsible for the blowout incidents in Chattak gas field in Sunamganj.

Now Bangladesh will not have to pay the compensation demanded by Niko.

State Minister for power and energy Nasrul Hamid said this in an online briefing at his resident on Sunday.

He said the Tribunal formed under the ICSID found that Niko was liable for the blowout as the drilling was being carried out under its arrangements and supervision.

The Tribunal concluded that Niko must compensate BAPEX for direct loss and damage caused by the blowout, he added.

The State Minister said the tribunal handed down the verdict on February 28. It was supposed to disclose the matter early of the March, but because of coronavirus pandemic it was deferred.


Dhaka/Hassan/AKA