ConocoPhillips Petrozuata B.V., ConocoPhillips Hamaca B.V. and ConocoPhillips Gulf of Paria B.V. v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/07/30, Decision on Respondent's Request for Reconsideration (March 10, 2014)
1. On 2 November 2007, Claimants submitted to the International Centre for Settlement of Investment Disputes (“ICSID” or “the Centre”) a Request for Arbitration against the Bolivarian Republic of Venezuela (“Venezuela” or “the Respondent”) pursuant to Article 36 of the ICSID Convention. On 13 December 2007, the Secretary-General of ICSID registered the Request for Arbitration in accordance with Article 36(3) of the ICSID Convention.
2. The Tribunal was constituted on 23 July 2008. Its members were Judge Kenneth Keith, President, appointed by the Chairman of ICSID Administrative Council pursuant to Article 38 of the ICSID Convention; Mr L. Yves Fortier, CC, QC, appointed by the Claimants; and Sir Ian Brownlie, CBE, QC, appointed by the Respondent. On 1 February 2010, the Tribunal was reconstituted, with Professor Georges Abi-Saab being appointed by Respondent, following Sir Ian Brownlie’s passing.
3. On 3 September 2013, the Tribunal issued a Decision on Jurisdiction and the Merits, concluding as follows:
“…For the foregoing reasons, the Tribunal decides as follows:
a. It does not have jurisdiction under Article 22 of the Investment Law and accordingly the claims by ConocoPhillips Company are dismissed; and
b. It has jurisdiction under Article 9 of the Bilateral Investment Treaty over: