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ZRVP Successful for OMV Petrom in ICC Arbitration

ZRVP Successful for OMV Petrom in ICC Arbitration

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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.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

Firm's website.

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