Mediterranean Oil & Gas reported Friday that Leni Gas & Oil has paid the first $1 million (GBP 600,000) of the $2.5 million (GBP 1.5 million) costs awarded to MOG in a judgment by the Commercial Court in London earlier this month.
Leni had brought a case against MOG to settle a dispute it had with the firm over a 2012 deal involving the Area 4 production sharing contract, offshore Malta.
On April 3, Mr Justice Males held that Leni should pay MOG’s legal costs on an indemnity basis after Leni pursued what he deemed a "weak and thin" case involving serious allegations of fraud and dishonesty. The size of award means that MOG expects to recover substantially all of its legal costs, it said.
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