1. A short identification of the case is set out below. It is made without prejudice to the full presentation of the factual and legal details of the case by the Parties and the Tribunal’s considerations and conclusions.
C.I. Claimant’s Perspective
2. The following quotation from Claimant’s Memorial of 14 May 2009 summarises the main aspects of the dispute as follows (C-IV, paras. 7–12):
“7. In this Memorial, CIOC sets out what is a substantial claim against Kazakhstan, currently estimated in the Quantum Report to be USD 1,121.4 million, for damages and compensation (including interest) arising out of the expropriation of its investment, a significant oil field in an oil rich area of the country. [Note by the Tribunal: the reference to the quantum of allegedly sustained damages in ‘millions’ was corrected by Claimant in later submissions to ‘billions’.]
8. Not only had CIOC invested millions of dollars in the exploration of the oil field and its development, it was also entitled to an exclusive 25-year commercial production licence since it had a commercial discovery. These rights, of which CIOC has been deprived, underpin CIOC’s claim for damages and compensation, but CIOC also claims non-material damages in respect of the moral harm that CIOC, its majority owner,