2013 Quipica, LLC and Quimicos Petroleros Integrados, C.A., v. Sichuan Honghua Petroleum Equipment Company, Ltd. et al
In the International Centre for Dispute Resolution. DLS represented Quimicos Petroleros Integrados, a Venezuelan oil, and gas service company, and Quipica, LLC, a Texas-based oil and gas intermediary, in an international arbitration against Honghua, one of the world’s largest drilling rig manufacturers. Quimicos and Quipica brought claims for damages related to Honghua’s sale of drilling rigs and drilling equipment to PDVSAS, the Venezuelan state oil company. Quimicos and Quipica alleged that Honghua, based in China, breached a series of contracts by failing to pay Quimicos and Quipica amounts owed from the sales to PDVSAS. The arbitration involved witnesses and activities on three continents and tens of thousands of documents in three languages. After over a year of arbitration and a four-day hearing, the panel found in favor Quimicos and Quipica on their breach of contract claim and awarded more than $15 million in damages.