Oil and gas company Lansdowne Oil & Gas has embarked on an arbitration battle to pursue its Energy Charter Treaty (ECT) claim against Ireland over the country’s refusal to issue a lease undertaking for an oil and gas field in the North Celtic Sea, which is operated by Barryroe Offshore Energy’s subsidiary, Exola DAC.
Following the filing of a request for arbitration (RFA) regarding its dispute with Ireland over the Barryroe oil and gas field at the International Centre for Settlement of Investment Disputes (ICSID) in Washington, D.C., on May 8, 2026, Lansdowne Oil & Gas ended up receiving written confirmation from ICSID that the ICSID Secretary-General registered the request.
The company sees this as an important step in the arbitration process, which will now be followed by the appointment of a tribunal. The firm intends to continue to vigorously assert its rights under the Energy Charter Treaty in its dispute with Ireland by pursuing a claim of a minimum of $100 million plus interest.
This comes after the ECT Secretariat announced on April 27, 2026, the receipt of notification regarding the country’s withdrawal from the Energy Charter Treaty, which will become effective one year after its notification to the Secretariat, from April 28, 2027. However, Ireland will continue to be bound by the 20-year sunset clause; thus, its withdrawal from the ECT will have no bearing on Lansdowne’s case.
The company gave notice to Ireland in June 2023 that a dispute existed under the ECT. As a result, the filing and registration of the RFA brings to a close the first formal step in the arbitration process.
Stephen Boldy, CEO of Lansdowne, commented: “On behalf of Lansdowne and all our shareholders, I would like to thank the legal teams from Diamond McCarthy and Mantle Law who have worked to produce the RFA and we look forward to the next steps in the arbitration process in our quest to seek just compensation for the loss of our Barryroe asset.
“It is expected that the company will recommence trading on the AIM of the London Stock Exchange on 27 May 2026, subject to shareholder approval of the resolutions at the upcoming General Meeting on 26 May 2026.”
Situated approximately 50 kilometers off the south coast of Ireland, the Barryroe field is located in the shallow water of around 100 meters. Lansdowne holds a 20% interest through its subsidiary, Lansdowne Celtic Sea, while the remaining interest is held by Exola DAC.
