2008
Perenco v. Ecuador Perenco Ecuador Limited v. Republic of Ecuador (Petroecuador) (ICSID Case No. ARB/08/6)
Ecuador
Bahamas
Sole operator and majority shareholder of rights in two oil blocks under two production sharing contracts concluded between Ecuador's oil company Petroecuador and several foreign investors; rights under joint operating agreements concluded with other entities holding interests in such blocks; contributions in personnel, equipment, technology, goods and services.
Claims arising out of Ecuador's enactment of Law No. 42 imposing a 99 per cent windfall levy on foreign oil revenues that allegedly resulted in the expropriation of Perenco's investment in Blocks 7 and 21 situated in the Ecuadorian Amazon region; particularly by depriving Perenco of its contractual right to an agreed participation percentage of the crude oil produced in the Blocks.
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)
Tomka, P.
Bingham, T. (replaced)
Kaplan, N.
Brower, C. N. (replaced)
Thomas, J. C.
Decided in favour of investor
1423.00 mln USD
416.50 mln USD
Indirect expropriation

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

Other
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
ICSID annulment proceedings
ICSID annulment proceedings
Pending
None
Zuleta, E. (President)

Pinto, M. (Member)

Knieper, R. (Member)