Zamfirescu Racoti Vasile & Partners has successfully represented OMV Petrom in ICC arbitration proceedings regarding a dispute with a contractor.
“The contractual dispute concerned claims for an amount of approximately USD 18 million … by a contractor of OMV Petrom acting in the oil and gas exploration and production business,” ZRVP informed. “The amount claimed by the opponent was an alleged difference in price which would have been due under the contract concluded between the parties.”
According to the firm, the arbitral tribunal resolved the dispute in favor of OMV Petrom in August 2022, awarding OMV Petrom the full dismissal of the claimant’s claims.
OMV Petrom is a Bucharest-headquartered energy company.
The ZRVP team was led by Partner Alina Tugearu and included Managing Partner Cosmin Vasile, Partner Monica Strimbei, and Managing Associate Andra Constantinescu.