The role of Asian International Arbitration Centre (AIAC) as a regional hub for oil and gas sector

Hydrocarbons projects involve multiple parties, including sovereign states and corporations, to operate expensive, complex and high-risk activities. Alternative dispute resolution (ADR) is often preferred more by the parties than litigation to ensure the smooth running of the projects. ADR refers to...

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Main Author:	Wan Zahari, Wan Mohd Zulhafiz
Format:	Article
Language:	English
Published:	Science Publishing Corporation 2018
Subjects:	K Law (General) KPG Malaysia
Online Access:	http://irep.iium.edu.my/65729/ http://irep.iium.edu.my/65729/ http://irep.iium.edu.my/65729/1/65729_The%20Role%20of%20Asian%20International%20Arbitration%20Centre%20%28AIAC%29.pdf

id	iium-65729
recordtype	eprints
spelling	iium-657292018-09-20T07:11:03Z http://irep.iium.edu.my/65729/ The role of Asian International Arbitration Centre (AIAC) as a regional hub for oil and gas sector Wan Zahari, Wan Mohd Zulhafiz K Law (General) KPG Malaysia Hydrocarbons projects involve multiple parties, including sovereign states and corporations, to operate expensive, complex and high-risk activities. Alternative dispute resolution (ADR) is often preferred more by the parties than litigation to ensure the smooth running of the projects. ADR refers to all mechanisms of dispute settlement other than litigation such as negotiation, mediation, adjudication, and arbitration. The Asian International Arbitration Centre (AIAC) or formerly known as the Kuala Lumpur Regional Centre for Arbitration (KLRCA) is the main institution that administers and resolves all commercial arbitration disputes in Malaysia. This research argues that, due to the technicalities and complexity of operations in the oil and gas sector, there is a need to set up a special arbitration centre for oil and gas under the AIAC to handle and resolve the industrial disputes. Furthermore, by establishing the centre, it can help to promote the AIAC as the choice of arbitration hub, especially within the Organization of the Petroleum Exporting Countries (OPEC). In doing so, it is necessary to pass a special legal framework to enable the establishment of the centre. It may function as a roadmap by the key players of the oil and gas sector to recourse in resolving disputes. The methodology employed by this research is carried out in a prescriptive, comparative and analytic manner. Science Publishing Corporation 2018 Article PeerReviewed application/pdf en http://irep.iium.edu.my/65729/1/65729_The%20Role%20of%20Asian%20International%20Arbitration%20Centre%20%28AIAC%29.pdf Wan Zahari, Wan Mohd Zulhafiz (2018) The role of Asian International Arbitration Centre (AIAC) as a regional hub for oil and gas sector. International Journal of Engineering & Technology, 7 (3.21 (Special issue 21)). pp. 345-350. E-ISSN 2227-524X https://www.sciencepubco.com/index.php/ijet/article/view/17792/7876
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	K Law (General) KPG Malaysia
spellingShingle	K Law (General) KPG Malaysia Wan Zahari, Wan Mohd Zulhafiz The role of Asian International Arbitration Centre (AIAC) as a regional hub for oil and gas sector
description	Hydrocarbons projects involve multiple parties, including sovereign states and corporations, to operate expensive, complex and high-risk activities. Alternative dispute resolution (ADR) is often preferred more by the parties than litigation to ensure the smooth running of the projects. ADR refers to all mechanisms of dispute settlement other than litigation such as negotiation, mediation, adjudication, and arbitration. The Asian International Arbitration Centre (AIAC) or formerly known as the Kuala Lumpur Regional Centre for Arbitration (KLRCA) is the main institution that administers and resolves all commercial arbitration disputes in Malaysia. This research argues that, due to the technicalities and complexity of operations in the oil and gas sector, there is a need to set up a special arbitration centre for oil and gas under the AIAC to handle and resolve the industrial disputes. Furthermore, by establishing the centre, it can help to promote the AIAC as the choice of arbitration hub, especially within the Organization of the Petroleum Exporting Countries (OPEC). In doing so, it is necessary to pass a special legal framework to enable the establishment of the centre. It may function as a roadmap by the key players of the oil and gas sector to recourse in resolving disputes. The methodology employed by this research is carried out in a prescriptive, comparative and analytic manner.
format	Article
author	Wan Zahari, Wan Mohd Zulhafiz
author_facet	Wan Zahari, Wan Mohd Zulhafiz
author_sort	Wan Zahari, Wan Mohd Zulhafiz
title	The role of Asian International Arbitration Centre (AIAC) as a regional hub for oil and gas sector
title_short	The role of Asian International Arbitration Centre (AIAC) as a regional hub for oil and gas sector
title_full	The role of Asian International Arbitration Centre (AIAC) as a regional hub for oil and gas sector
title_fullStr	The role of Asian International Arbitration Centre (AIAC) as a regional hub for oil and gas sector
title_full_unstemmed	The role of Asian International Arbitration Centre (AIAC) as a regional hub for oil and gas sector
title_sort	role of asian international arbitration centre (aiac) as a regional hub for oil and gas sector
publisher	Science Publishing Corporation
publishDate	2018
url	http://irep.iium.edu.my/65729/ http://irep.iium.edu.my/65729/ http://irep.iium.edu.my/65729/1/65729_The%20Role%20of%20Asian%20International%20Arbitration%20Centre%20%28AIAC%29.pdf
first_indexed	2023-09-18T21:33:14Z
last_indexed	2023-09-18T21:33:14Z
_version_	1777412650755424256

The role of Asian International Arbitration Centre (AIAC) as a regional hub for oil and gas sector

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