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Tuesday, October 3, 2017

Receivers Turn to Pertamina EP



The step of the curator team of PT Geo Cepu Indonesia to hunt down the assets of the bankrupt debtor now leads to PT Pertamina EP The subsidiary of PT Pertamina is claimed to have US $ 27 million to Gea Cepu.

In fact, the team of curators of PT Geo Cepu Indonesia are considering making a legal effort to Pertamina EP to collect unrecovered assets that have not been paid to the bankrupt debtor. The reason, these assets can be used as a bankrupt budel to pay obligations to the creditors. One of the bankruptcy curators Geo Cepu Risma Situmorang said PT Pertamina EP has not paid the results of oil drilling process because Geo Cepu does not meet the target set by Pertamina.

In fact, both have been working together through the scheme of Cooperation Cooperation (KSO) since 2013. Thus, the cost is not paid by Pertamina EP accumulate up to US $ 27 million. Geo Cepu claimed to spend considerable funds for the process of drilling, diesel and vendor costs. As a result, Geo Cepu has constraints to pay its obligations to vendors.

"The curator will see if the legal effort to unrecovered assets could increase the bankruptcy of the bankrupt must be done," he said on Monday (2/10) Not to mention that Pertamina EP sent a unilateral letter of termination to Geo Cepu. Cepu last August.Later, the letter received by the curator in early September.

Risma said that his party will initiate an intense meeting with Pertamina EP and Geo Cepu. Meanwhile, the solution is Geo Cepu able to bring investors to continue the work of oil drilling or going concern scheme. While waiting, he asked Pertamina EP to better understand the condition of Geo Cepu.

Meanwhile, PT Pertamina EP admitted to having cut off the KSO relationship with Geo Cepu Indonesia due to the bankruptcy status received by Geo Cepu on August 28, 2017.

Public Relation Manager of PT Pertamina EP Muhammad Baron confirmed the company cut off the work contract of Cepu Block with Geo Cepu. He considered that PT Geo Cepu Indonesia did not perform its duties as an executive and manager of upstream oil and gas activities in the mining work area (WKP) of Cepu Block. These areas include Bojonegoro, Tuban and Blora. Not to mention, Geo Cepu also does not perform obligations to its creditors.

"PT Geo Cepu Indonesia has made a default because it is not able to carry out activities according to the contract," he said.

Therefore, the activities in Cepu Block are managed entirely by PT Pertamina EP as of September 1, 2017. He requested that Geo Cepu not link its bankruptcy with Pertamina EP. He refused if the company is considered not to pay unrecovered assets to PT Geo Cepu. Because, Geo Cepu only contracted as a manager, so do not have any assets. Baron also assumes Pertamina EP has the right to terminate the cooperation before the contract expires in 2033.

With the bankruptcy granted by the court, Geo Cepu certainly has an obligation to its creditors. Nevertheless, the Baron objected when problems with third parties were connected with Pertamina EP. He invited if there is a legal effort to the company. It respects the litigation, provided there is evidence that can be legally accountable.

"We just ask this issue not to be reversed the responsibility and the truth between Pertamina EP and Geo Cepu," he concluded.

WAY OUT

Geo Cepu lawyer Duma Hutapea said bankruptcy is the best way to resolve bankruptcy debtor. The debtor will be cooperative in undergoing bankruptcy proceedings. The Company has submitted the list of assets to the curator team, including bank guarantees, some machines, and unrecovered assets from Pertamina EP.

"Because now we are bankrupt then unrecovered assets become debtor's property to be distributed to creditors," he said. The assets, he said, are rights retained by Pertamina EP.

In the work agreement, Pertamina EP will pay its right if Geo Cepu fulfill the production target. This contract is valid until 2033. Geo Cepu Indonesia is bankrupt after the peace agreement is canceled by one of its creditors PT Garda
Satria Indonesia.

Garda Satria admitted to not getting the payment as written in the peace proposal. The request for cancellation was granted because Geo Cepu proved to be disobeying the contents of the peace plan, especially to the cancellation applicant, so the debtor automatically went bankrupt.

Geo Cepu is included in the postponement period of debt payment obligation (PKPU) on April 2nd, 2016. Furthermore, the debtor's peace plan was approved on I August 2017.

IN INDONESIA

Kurator Berpaling ke Pertamina EP


Langkah tim kurator PT Geo Cepu Indonesia untuk memburu aset debitur pailit kini mengarah ke PT Pertamina EP Anak usaha PT Pertamina itu diklaim punya kewajiban US$ 27 juta ke Gea Cepu.

Bahkan, tim kurator PT Geo Cepu Indonesia mempertimbangkan untuk melakukan upaya hukum kepada Pertamina EP untuk menagih unrecouered asset yang belum dibayarkan kepada debitur pailit. Pasalnya, aset tersebut dapat dijadikan sebagai budel pailit untuk membayar kewajiban kepada para kreditur. Salah satu kurator kepailitan Geo Cepu Risma Situmorang mengatakan PT Pertamina EP belum membayarkan hasil proses pengeboran minyak karena Geo Cepu tidak memenuhi target yang dipatok Pertamina.

Padahal, keduanya telah bekerja sama melalui skema Kerja Sama Operasi (KSO) sejak 2013. Dengan begitu, biaya yang tidak dibayarkan oleh Pertamina EP menumpuk hingga US$ 27 juta. Geo Cepu mengaku mengeluarkan dana yang cukup besar untuk proses pengeboran, solar dan biaya vendor. Alhasil, Geo Cepu memiliki kendala untuk membayar kewajibannya kepada para vendor. 

“Kurator akan melihat jika upaya hukum terhadap unrecovered asset itu bisa meningkatkan budel pailit maka harus dilakukan," katanya, Senin (2/10). Belum lagi, Pertamina EP mengirimkan surat pemutusan kontrak kerja kepada Geo Cepu secara sepihak. Surat itu ditujukan kepada Geo Cepu Agustus lalu. Selanjutnya, surat diterima kurator pada awal September.

Risma berujar pihaknya akan menginisiasi pertemuan intens dengan Pertamina EP dan Geo Cepu. Adapun, solusinya adalah Geo Cepu mampu mendatangkan investor untuk melanjutkan pengerjaan pengeboran minyak atau skema going concern. Sembari menunggu, dia meminta Pertamina EP untuk lebih memahami kondisi Geo Cepu.

Sementara itu, PT Pertamina EP mengakui telah memutus hubungan KSO dengan Geo Cepu Indonesia Iantaran status pailit yang diterima Geo Cepu pada 28 Agustus 2017.

Public Relation Manager PT Pertamina EP Muhammad Baron membenarkan perseroan memutus kontrak pengerjaan Blok Cepu dengan Geo Cepu. Dia menilai PT Geo Cepu Indonesia tidak melakukan kewajibannya sebagai pelaksana dan pengelola kegiatan sektor hulu minyak dan gas di wilayah kerja pertambangan (WKP) Blok Cepu. Wilayah ini meliputi Bojonegoro, Tuban dan Blora. Belum lagi, Geo Cepu juga tidak melaksanakan kewajiban kepada para krediturnya. 

“PT Geo Cepu Indonesia telah melakukan wanprestasi karena tidak mampu melaksanakan kegiatan sesuai kontrak," katanya.

Oleh karena itu, kegiatan di Blok Cepu seluruhnya dikelola oleh PT Pertamina EP per 1 September 2017. Dia meminta Geo Cepu tidak mengkaitkan kepailitannya dengan Pertamina EP. Dia menolak apabila perseroan dianggap tidak membayarkan unrecovered asset kepada PT Geo Cepu. Pasalnya, Geo Cepu hanya dikontrak sebagai pengelola, sehingga tidak memiliki aset satu pun. Baron juga beranggapan Pertamina EP berhak memutus kerja sama sebelum kontrak berakhir pada 2033.

Dengan dikabulkanya pailit oleh pengadilan, Geo Cepu tentu memiliki kewajiban kepada para krediturnya. Kendati begitu, Baron keberatan apabila masalah dengan pihak ketiga disangkutpautkan dengan Pertamina EP. Dia mempersilakan jika ada upaya hukum kepada perseroan. Pihaknya menghormati proses pengadilan, asalkan ada bukti yang bisa dipertanggungjawabkan secara hukum.

“Kami hanya minta masalah ini tidak diputarbalikkan tanggung jawab dan kebenaran antara Pertamina EP dan Geo Cepu,” pungkasnya.

JALAN KELUAR

Kuasa hukum Geo Cepu Duma Hutapea berujar kepailitan adalah jalan terbaik untuk menyelesaikan kepailitan debitur. Debitur akan bersifat kooperatif dalam menjalani proses kepailitan. Perseroan telah menyerahkan daftar aset kepada tim kurator antara lain bank garansi, beberapa mesin, dan unrecovered asset dari Pertamina EP.

“Karena sekarang kami sudah pailit maka unrecovered asset menjadi harta debitur untuk nantinya dibagikan kepada kreditur,” katanya. Aset tersebut, ujarnya adalah hak-hak yang masih ditahan oleh Pertamina EP.

Dalam perjanjian kerja, Pertamina EP akan membayarkan haknya apabila Geo Cepu memenuhi target produksi. Kontrak ini berlaku hingga 2033. Geo Cepu Indonesia bersatus pailit setelah perjanjian perdamaian dibatalkan oleh salah satu krediturnya PT Garda Satria Indonesia.

Garda Satria mengaku tidak mendapatkan pembayaran sesuai dengan yang tertulis di proposal perdamaian. Permohonan pembatalan dikabulkan lantaran Geo Cepu terbukti tidak menaati isi rencana perdamaian, khususnya kepada pemohon pembatalan, sehingga debitur otomatis berstatus pailit.

Geo Cepu masuk dalam masa penundaan kewajiban pembayaran utang (PKPU) pada II April 2016. Selanjutnya, rencana perdamaian debitur telah disahkan pada I Agustus 2017 lalu. 

Bisnis Indonesia, Page-11, Tuesday, October 3, 2017

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