The World Bank’s International Centre for Settlement of Investment Disputes (ICSID) is investigating allegations made by Bapex and its parent company Petro­bangla that Niko Resources acquired its Feni and Chattak onshore gas fields in Bangladesh through corrupt means.

The Bangladesh state-owned companies have petitioned ICSID to rule on whether Niko’s joint venture agreement (JVA) and gas sales and purchase agreement (GSPA) for the Feni and Chattak fields are void, claiming that they were procured via corrupt practices.

ICSID