PTT says it has received no compensation-claim figure over oil spill
PTT Exploration and Production Plc (PTTEP) reported to the Stock Exchange of Thailand on Monday that it and its subsidiary PTTEP Australasia (Ashmore Cartier) Pty Ltd (PTTEP AA) had not received notification of the “substance or extent of the claim” of compensation being sought by the Indonesian government over legal action linked to the 2009 Montara oil spill.
It responded to media reports last week that the Indonesian government had launched a US$1.9 billion (Bt66 billion) legal action over the spill.
Since the incident, PTTEP said it and PTTEP AA had always accepted responsibility and compiled with all the environmental requirements, which resulted in the Australian government giving it permission to continue the operations.
PTTEP said after it received a claim for compensation from the Indonesian government, both it and PTTEP AA have put great effort into “sincerely” cooperating with Indonesian authorities, but no agreement had been reached.
It said PTTEP and PTTEP AA maintained their position, based on extensive independent scientific research overseen by the Australian government, that no oil from Montara reached the shores of Indonesia or Australia and that no long-term damage was done to the environment in the Timor Sea.
Currently, it said PTTEP Netherlands Holding Coöperatie UA (a subsidiary of PTTEP) had one operating asset in Indonesia through a 11.5 per cent holding stake in the Natuna Sea A project.
The project’s total sales volume of natural gas is approximately 224 million cubic feet per day with approximately 1,200 barrels per day of crude oil, representing a net contribution of approximately 1 per cent to PTTEP’s total sales volume, the company said.
“If there is any progress, we will provide more updates in due course,” it said.