PT Medco Energi International Tbk stated that the United Nations Arbitration Court of the United Nations Comission of International Trade Law has granted US $ 24 million claim filed by its Singapore-based subsidiary, Medco Strait Services Pte Ltd. The lawsuit against Singapore Petroleum Ltd. And Cue Energy Pty Ltd. (Cue).
"We are pleased with the decision of the arbitration tribunal that affirms our position for having acted in good faith and fully complying with our contractual obligations," said Medco Energi CEO Roberto Lorato, in a press release on Tuesday (23/5).
As is known, this case started when Medco Energi, through Medco Strait Services, participated in the project development of orange field in Block Sampang in 2006 then. Medeo Strait Services owns 25% stake in Sampang Block, Singapore Petroleum at 21.8%, Cue Energy at 8.2% and Santos 45%. But on the way, the project managed through the Joined Project Agreement (JPA) is not going well.
As a result, Medco Strait Services withdrew from the joint venture and wanted to withdraw the funds already invested. Initially Singapore Petroleum and Cue did not want to refund the fund for various reasons. This is what drives Medco Strait Services through arbitration.
IN INDONESIAN
Medco Berseteru, Lalu Menang di Blok Sampang
PT Medco Energi Internasional Tbk menyatakan, Pengadilan Arbitrase United Nation Comission of International Trade Law telah mengabulkan klaim senilai US$ 24 juta yang diajukan anak perusahaannya yang berbasis di Singapura, Medco Strait Services Pte Ltd. Gugatan itu melawan Singapore Petroleum Ltd. dan Cue Energy Pty Ltd. (Cue).
"Kami senang dengan keputusan pengadilan arbitrase yang menegaskan posisi kami karena telah bertindak dengan itikad baik dan sepenuhnya mematuhi kewajiban kontraktual kami," ujar CEO Medco Energi Roberto Lorato, dalam siaran pers, Selasa (23/5).
Seperti diketahui, kasus ini bermula ketika Medco Energi, melalui Medco Strait Services, ikut proyek pengembangan lapangan Jeruk di Blok Sampang pada tahun 2006 lalu. Medeo Strait Services memiliki 25% saham di Blok Sampang, Singapore Petroleum sebesar 21,8%, Cue Energy sebesar 8,2% dan Santos 45%. Namun dalam perjalanannya, proyek yang dikelola melalui Joined Project Agreement (JPA) tersebut tidak berjalan dengan baik.
Akibatnya, Medco Strait Services mundur dari join venture itu dan ingin menarik juga dana yang sudah ditanamkan. Awalnya Singapore Petroleum dan Cue tidak mau mengembalikan dana tersebut dengan berbagai alasan. Inilah yang mendorong Medco Strait Services menuntut melalui arbitrase.
Kontan, Page-14, Wednesday, May 24, 2017
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