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Occidental Exploration and Production Company v Ecuador, Final Award, LCIA Case No UN3467, IIC 202 (2004), 1st July 2004, London Court of International Arbitration [LCIA]

Occidental Exploration and Production Company v Ecuador, Final Award, LCIA Case No UN3467, IIC 202 (2004), 1st July 2004, London Court of International Arbitration [LCIA]

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 14 October 2019

1. In 1999, OCCIDENTAL EXPLORATION AND PRODUCTION COMPANY (“OEPC” or “The Company”), a company registered under the laws of California, United States of America, entered into a participation contract (“the Contract” or “Modified Participation Contract”) with Petroecuador, a State–owned corporation of Ecuador, to undertake exploration for and production of oil in Ecuador. This Contract followed earlier agreements for the provision of services to Petroecuador. 2. OEPC applied regularly to the Servicio de Rentas Internas (SRI) for the reimbursement of Value–Added Tax...
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