{"id":16719,"date":"2026-01-19T15:26:38","date_gmt":"2026-01-19T14:26:38","guid":{"rendered":"https:\/\/www.iisd.org\/itn\/?p=16719"},"modified":"2026-04-21T19:15:52","modified_gmt":"2026-04-21T17:15:52","slug":"rockhopper-launches-new-icsid-arbitration-after-award-annulment","status":"publish","type":"post","link":"https:\/\/www.iisd.org\/itn\/2026\/01\/19\/rockhopper-launches-new-icsid-arbitration-after-award-annulment\/","title":{"rendered":"Rockhopper Launches New ICSID Arbitration After Award Annulment"},"content":{"rendered":"<p>Rockhopper Exploration plc, a UK-based oil and gas company with interests in the North Falkland Basin, has <a href=\"https:\/\/rockhopperexploration.co.uk\/2025\/06\/unsuccessful-arbitration-annulment-outcome\/\">triggered<\/a> its annulment insurance policy and launched a new <span class='tooltipsall tooltipsincontent classtoolTips18'>ICSID<\/span> arbitration against the Italian Republic under the Energy Charter Treaty, following the annulment of a controversial 2022 <a href=\"https:\/\/www.iisd.org\/itn\/2023\/04\/02\/icsid-tribunal-finds-that-italy-committed-an-unlawful-expropriation-under-ects-art-131\/\">ICSID award regarding offshore drilling restrictions<\/a>. Under the annulment insurance policy Rockhopper took out in October 2024, the company will receive \u20ac31 million, mitigating the financial impact of the annulment. This development highlights an emerging trend in investor-state dispute resolution: <a href=\"https:\/\/www.iisd.org\/publications\/brief\/investment-treaties-risk-allocation-tool\">investors increasingly hedge against annulment risk through insurance<\/a>, and the annulment of an award does not necessarily end a dispute, as it can lead to new arbitration proceedings rather than settlement or withdrawal.<\/p>\n<script type=\"text\/javascript\"> toolTips('.classtoolTips18','International Centre for Settlement of Investment Disputes'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips32','International Institute for Sustainable Development<!--more-->'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips33','Institut international du d\u00e9veloppement durable'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips34','Instituto Internacional para el Desarrollo Sostenible'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips60','Investment Treaty News'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips63','Bilateral investment treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips67','Energy Charter Treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips72','Investment Court System'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips116','European Commission'); <\/script>","protected":false},"excerpt":{"rendered":"<p>Rockhopper Exploration plc, a UK-based oil and gas company with interests in the North Falkland Basin, has triggered its annulment insurance policy and launched a new <span class='tooltipsall tooltipsincontent classtoolTips18'>ICSID<\/span> arbitration against the Italian Republic under the Energy Charter Treaty, following the annulment of a controversial 2022 ICSID award regarding offshore drilling restrictions.<script type=\"text\/javascript\"> toolTips('.classtoolTips18','International Centre for Settlement of Investment Disputes'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips63','Bilateral investment treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips72','Investment Court System'); <\/script><\/p>\n","protected":false},"author":34,"featured_media":16947,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[397],"tags":[],"class_list":["post-16719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts\/16719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/comments?post=16719"}],"version-history":[{"count":1,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts\/16719\/revisions"}],"predecessor-version":[{"id":17290,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts\/16719\/revisions\/17290"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/media\/16947"}],"wp:attachment":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/media?parent=16719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/categories?post=16719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/tags?post=16719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}