Bahrain chamber 'playing key role in oil-gas row'
Manama, September 28, 2011
The Bahrain Chamber for Dispute Resolution (BCDR-AAA) has demonstrated its commitment to working with the oil and gas sector to manage and resolve industry-related disputes across the Middle East, said a senior official.
As diamond sponsors of the Middle East Prospect Exhibition (Mepex) event at the Bahrain International Exhibition Centre, a team of experts have used the opportunity to showcase its wide-ranging, international standard alternative dispute resolution (ADR) services to delegates from the oil and gas sector from around the world, chief executive officer James MacPherson said.
Moderating a session with several international experts on the challenges facing the oil and gas sector and the legal and arbitration solutions from which they can benefit, he said Mepex, running on the sidelines of the Middle East Oil and Gas Show (MEOS 2011), provided an opportunity to meet senior oil and gas professionals, to listen to their concerns and discuss how they could benefit from their services to manage and resolve their contractual and other disputes.
'Those doing business in the Middle East can opt to resolve their disputes here in the region with our joint venture with the American Arbitration Association in Bahrain,' he said.
The conference, the largest technical event of its kind in the region and held under the patronage of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, provides the opportunity to network with national oil corporations, international oil companies and major operating companies in the region.
'Mediation and arbitration are an increasingly appealing form of alternative dispute resolution, particularly in cross-border disputes such as for oil and gas deals,' said Mr MacPherson.
'By avoiding the courts, it assists the parties as it reduces confrontation, provides neutrality, maintains confidentiality and in most cases leads to a speedy settlement and hence lower costs,' he added.
He said that it provides a unique option for businesses with its Free Arbitration Zone that allows parties doing business outside Bahrain to opt to hold their arbitration in Bahrain without concern that parties could use the local courts to slow down the process.
'We wish to share and discuss this unique opportunity, along with the other services offered during this event,' he added.
Over 2,000 oil and gas professionals are expected to attend the Mepex exhibition over the next two days.-TradeArabia News Service