Range Resources withdraws notice of arbitration Georgia

Trinidad and Indonesia-focussed oil and gas company Range Resources updated the market on its interest in its Georgian project on Wednesday.

The AIM-traded firm had previously advised that it submitted a notice of arbitration against the State of Georgia, in respect of the wrongful termination of the production sharing contract over Block VIA, dated 29 March 2007, in Georgia.

“After careful consideration, Range has withdrawn the notice of arbitration on a without-prejudice basis,” the board said in its short statement.