Determining Compensation for Expropriation In Treaty-Based Oil & Gas Arbitrations

August 2015
Leading Practitioners’ Guide to International Oil & Gas Arbitration - Chapter 6

The Occidental v. Ecuador II award and more recently the Yukos v. Russia award leave no doubt that the largest damages awards in treaty-based arbitration concern oil and gas disputes. In fact, four out of the ten largest awards issues by the International Centre for Settlement of Investment Disputes ("ICSID") pertain to oil and gas even though oil, gas and mining disputes only represent 25% of all ICSID cases filed as of the end of 2013.