Energy & Natural Resources Arbitration

Experience

    • Francesco Becchetti and five other Italian investors in ICSID proceedings against Albania arising out of claimants’ investments in a hydroelectric plant and a media company, winning a historic order of provisional measures suspending criminal and extradition proceedings, and resulting in a favorable award.
    • An engineering and commissioning contractor in an AUS$2 billion ICC Singapore arbitration concerning the disputed termination of an EPC subcontract to build a captive Combined Cycle power station on an LNG facility.
    • A U.S.-based natural resources company in an ICC arbitration against an African State-owned entity relating to the sale of shares in a holding company with significant assets in an African country.
    • Occidental Petroleum Company and Occidental Exploration and Production Company (“Occidental”) in an ICSID arbitration, winning one of the largest ever BIT awards, $1.1 billion ($1.4 billion including interest). The filing of the claim was made two days after Ecuador terminated all of Occidental’s exploration and production rights and seized all of its assets in the country. Ecuador and Occidental have arranged for payment of this award.
    • Occidental Petroleum Corporation in winning over $130 million in damages in a BIT arbitration resulting from Ecuador’s failure to refund VAT payments to Occidental.
    • ExxonMobil and Murphy Oil in a NAFTA claim against the Government of Canada arising from requirements imposed by the Province of Newfoundland and Labrador. The Tribunal handed down its Decision on Liability and on Principles of Quantum ruling in favor of our clients that Newfoundland’s regulations violated NAFTA.
    • Ust-Kamenogorsk Hydropower Plant, a subsidiary of Samruk Energy, as advocates to the appellant in the UK Supreme Court on a landmark arbitration appeal to determine whether the English Court has jurisdiction to grant an anti-suit injunction in circumstances where no arbitration is intended or in prospect.
    • A state-owned entity in a dispute with an Asian state-owned entity arising under a long-term gas supply agreement worth $30 billion.
    • Perenco Ecuador, prevailing on novel jurisdictional and merits issues in an ICSID arbitration arising out of the Republic of Ecuador’s unilateral increase of its participation to 99% of all revenues from oil sales above a fixed “reference price” and its declaration that Perenco’s contracts had come to an end. Perenco is now entitled to approximately US$435 million, net of cost recovery and other factors, which is the largest compensation amount that any investment tribunal has awarded against Ecuador for its imposition of Law 42.
    • Petrolera Ameriven (a joint venture owned by PdVSA of Venezuela, Phillips Conoco and Chevron Texaco) in five ICC arbitrations involving a petrochemical “upgrader” facility in Venezuela, with over $900 million at stake.
    • Several U.S. companies against a Middle Eastern government and a state-owned company in an ICC arbitration arising from a long-term natural resource concession, as well as other arbitrations arising from oil and gas concessions.