The mediatised arbitration between PDVSA and PetroSaudi related to seven years of offshore drilling activity in Venezuela and covered a myriad of technical aspects. The arbitration was seated in Paris but took place in London and followed English procedural practice. Among other complications, the Arbitral Tribunal had to navigate US and other sanctions against Venezuela.
The co-arbitrators were David Owen QC and Simon Rainey QC. Daniela Franchini, of Tavernier Tschanz, acted as the Arbitral Tribunal’s Secretary.