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ICSID—damages award issued in oil profits dispute (Perenco v Ecuador)

ICSID—damages award issued in oil profits dispute (Perenco v Ecuador)
Published on: 02 October 2019
Published by: Law360
  • ICSID—damages award issued in oil profits dispute (Perenco v Ecuador)
  • What did the tribunal decide?

Article summary

Law360: An International Centre for the Settlement of Investment Disputes (ICSID) arbitral tribunal has determined that Ecuador must pay Perenco Ecuador, a Bahamian oil company, nearly US$450m to resolve a more than 10-year-old dispute over the allocation of profits from two oil blocks in the Amazon. In addition, the tribunal decided that the claimant energy company shall pay the respondent state nearly US$55m in respect of environmental damage. or take a trial to read the full analysis.

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