The Arbitral Tribunal issued on July 9, 2020 the final decision in the arbitration initiated by OMV Aktiengesellschaft (OMV AG) at the International Chamber of Commerce in Paris against the Romanian Ministry of Environment regarding certain notifications of claims of the Ministry of Environment for the costs incurred by OMV Petrom with regard to well decommissioning and environmental restoration works, according to e-nergia.ro.

The information appears in the report on the financial results of OMV Petrom at six months.

The arbitral tribunal requested the Romanian Ministry of Environment to reimburse OMV Petrom S.A. the amount of 287.62 million lei (almost all the amount initially requested) and the related interest.

The impact of the decision is reflected in the company’s results for the second quarter of 2020 and mainly relates to the recognition of interest income in the net financial result.

OMV sued the Romanian state on March 7, at the Paris Arbitration Court, because the government did not pay part of the expenses related to the historical pollution and decommissioning of the wells, according to the data that appear in the company’s report.