Caracas.- ConocoPhillips announced on Wednesday that it won a $ 2 billion arbitration against Venezuela's state oil company for the seizure of a decade ago of investments in two projects in the South American nation.

 The ruling represents the equivalent of more than 20% of the current foreign exchange reserves of the Venezuelan government.

 The company, based in Houston, said in a statement that the ruling against Pdvsa was issued by an international tribunal formed under the rules of the International Chamber of Commerce, AP reported.

. ConocoPhillips said the ruling is final and binding and that the company seeks financial recovery in accordance with the fullness of the law.

 The company has a separate legal claim against the Venezuelan government under the auspices of the World Bank investment dispute mechanism