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2002
Occidental v. Ecuador (I) Occidental Exploration and Production Company v. Republic of Ecuador (I) (LCIA Case No. UN3467)
Nationality of the parties
Ecuador
United States of America
Summary of matters at issue
Rights under a participation contract for the exploration and exploitation of hydrocarbons.
Claims arising out of resolutions issued by the Ecuadorian tax authority denying applications for VAT refunds by Occidental, and requiring the return of the amounts previously reimbursed in connection with a participation contract entered into by the claimant with Petroecuador, a State-owned corporation of Ecuador, to undertake oil exploration and production in Ecuador.
Economic sector and subsector
Primary: B - Mining and quarrying
6 - Extraction of crude petroleum and natural gas
Arbitral rules and administering institution
UNCITRAL
LCIA (London Court of International Arbitration)
Composition of tribunal
Orrego Vicuña, F.
Brower, C. N.
Barrera Sweeney, P.
Status/Outcome of original proceedings
Decided in favour of investor
Decisions rendered
Amount of compensation
201.50 mln USD
71.50 mln USD
IIA breaches alleged/found
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

National treatment

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

National treatment

Arbitrary, unreasonable and/or discriminatory measures
Follow-on proceedings
Judicial review by national courts
Judicial review by national courts
Award/decision upheld
Link to Italaw's case page