PTTEP on US$2.4 Billion Montara Claim: No Verifiable Evidence Presented

Law

Friday, 27 August 2010 11:41

PTTEP Australasia, a subsidiary of PTT Exploration and Production Plc, has on Thursday (Aug 26) received the letter of claims from Indonesian government for compensation for damages (reportedly up to US$2.4 billion) from the Montara oil spill in the Timor Sea last year.

Mr. Anon Sirisaengtaksin, President and CEO of PTT Exploration and Production Public Company Limited or PTTEP, said that PTTEP found no verifiable evidence has yet to be presented to support any claim.

Mr. Anon added that recently there have been people who tipped off news that had adverse effect to PTTEP and that the company might demand responsibilities from them.

"Last year, PTTEP put Montara incident under control. The company evaluated the oil slick during the incident and its effects after the incident and found that the spread of the slick was in limited to only an area surrounding Montara. PTTEP has also joined hands with Australian authorities concerned to closely follow the environmental situation. It has worked to study on the long term effect on the environment which encompasses studies on the spread of oil from Montara in the Timor Sea to evaluate the effect of the incident. The result of these studies will be released to the public when completed," PTTEP argued to Thailand Stock Exchange this morning.

Freddy Numberi, Indonesian minister of transportation, said on Thursday that government seeks compensation up to Rp22 trillion or about US$2.4 billion from PTTEP for what he called "ecological damages" from Montara oil spill.

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