Chevron pursues arbitration to enforce contractual right to indemnification against Petroecuador

Client(s) Chevron Corporation

Jones Day represented Chevron Corporation in an arbitration initiated in June 2004 against Petroecuador, the state-owned oil company of Ecuador, to enforce a contractual right to indemnification under a Joint Operating Agreement. Residents of Ecuador have brought environmental claims against Chevron in an Ecuadorian court, based on the operations of an oil consortium in which Petroecuador and a Chevron subsidiary, Texaco Petroleum Company ("TexPet"), participated.

ChevronTexaco Corp. v. Petroecuador, No. 50 T 198 00297 04 (American Arbitration Association); Republic of Ecuador v. ChevronTexaco Corp., No. 04 Civ. 8378 (LBS) (S.D.N.Y.)