Burlington v. Ecuador Burlington Resources, Inc. v. Republic of Ecuador (ICSID Case No. ARB/08/5)
United States of America
Rights under production sharing contracts for the exploration and exploitation of Blocks 7 and 21, concluded between a Burlington wholly-owned subsidiary and Ecuador.
Claims arising out of Ecuador's enactment of a law imposing a 99 per cent windfall levy on foreign oil revenues as a result of an oil spike starting in 2002, the Government's decision to migrate to service contracts and the subsequent caducidad process to terminate the investor's production sharing agreements.
Primary: B - Mining and quarrying
6 - Extraction of crude petroleum and natural gas
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Kaufmann-Kohler, G.
Drymer, S. L.
Orrego Vicuña, F. (replaced)
Stern, B.
Decided in favour of investor
1515.60 mln USD
379.80 mln USD
Direct expropriation

Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

National treatment

Arbitrary, unreasonable and/or discriminatory measures
Direct expropriation
ICSID annulment proceedings
ICSID annulment proceedings
Rigo Sureda, A. (President)

Bernardini, P. (Member)

Van Houtte, V. (Member)