Tidewater v. Venezuela Tidewater Investment SRL and Tidewater Caribe, C.A. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/10/5)
Venezuela, Bolivarian Republic of
Marine support services to the oil industry in Venezuela under contracts concluded between SEMARCA, an enterprise owned by Tidewater, and Venezuelan State-owned companies.
Claims arising out of the Government's enactment of a law reserving to the State the assets and services related to primary activities of hydrocarbons and the seizure of claimants' marine support services operations and assets in Lake Maracaibo and the Gulf of Paria, including fifteen vessels.
Primary: B - Mining and quarrying
9 - Mining support service activities
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
McLachlan, C. A.
Rigo Sureda, A.
Stern, B.
Decided in favour of investor
234.00 mln USD
46.40 mln USD
Direct expropriation

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

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
Direct expropriation
ICSID annulment proceedings
ICSID annulment proceedings
Award/decision partially annulled
Yusuf, A. A. (President)

Abraham, C. W. M. (Member)

Knieper, R. (Member)