The appellant and respondents are parties to a Production Sharing Contract (PSC) in respect of an Oil Prospecting License which was subsequently converted to an Oil Mining Lease. The PSC contained a crude oil sharing formula. Also, the PSC stated that disputes as to the interpretation or performance of the contract are to be referred to arbitration in accordance with the Arbitration and Conciliation Act Cap. A18 LFN 2004. Accordingly, dispute arose among the parties on the performance of the PSC, the appellant and 2nd respondent therefore sought the interpretation of the PSC by referring the matter to arbitration and issuing a Notice of arbitration to the 1st respondent.