Oilex legal wrangle with former Indonesian partner takes new twist
05 February 2010
Legal wrangles between Australian oil and gas group Oilex and former farm-out partner PT Sumatera Persada Energi (SPE) have taken a new twist with news that SPE is seeking damages from Oilex over alleged defamation.
The development stems from legal action brought last year by Oilex’s West Kampar subsidiary, OWK, which is trying to recover in excess of US$4.1 million of what it says are unpaid debts.
The problem apparently arose out of SPE's failure to repay monies advanced by OWK under a farm-out agreement covering the West Kampar Production Sharing Contract, which the two sides entered into in August 2008 but was later terminated in January 2009.
Under the terms of a parent company guarantee provided to OWK at the time of the farm-out, PT Asiabumi Petroleo, the parent company, guaranteed SPE's obligations to repay the money. However, Asiabumi has not yet met its obligations and OWK consequently filed an arbitration proceeding in the International Chamber of Commerce in Singapore on April 30, 2009. The first arbitration hearing occurred on January 25, 2010 and is scheduled to continue on February 18 and 19, 2010.
In the latest development, Asiabumi notified OWK of a claim filed also on January 25, 2010 by SPE in an Indonesian court. OWK has not yet been served with the claim but it is understood to be seeking damages from OWK for alleged defamation arising out of correspondence in November 2008 that provided BPMigas with information relating to SPE's performance as operator.
OWK said it rejected the allegations and, if served, would vigorously oppose the claim. The company added that its effort to deal directly with SPE and Asiabumi had so far failed.
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