Oil and Gas Contractors Submit Refund

VIVAnews - Corruption Eradication Commission (KPK) received state refund from oil and gas sector valuing US$167 million from six production sharing contract contractors.

The refund includes US$62,884,616, garnered from contractors' exploration fund, and US$104.17 millions, gained from credit investment.

The occasion was attended personally by Energy and Mineral Resources Minister Purnomo Yusgiantoro, KPK Head, Director General of Oil and Gas Evita Legowo, President Director of PT Pertamina Karen Agustiawan, and Head of Upstream Oil and Gas Regulator (BP Migas) Priyono, taking place at the KPK office on Thursday, March 19.

The contractors are Pertamina EP (US$45,522,989), PT Medco EP (US$10,890,665), Kondur Petrolium SA (US$5,212,205), Kangean Energy Indonesia (US$809,983), and Kalrez Petrolium Ltd. (US$448,774). The fund is deposited in an account jointly managed by the contractors and BP Migas.

Earlier, Conoco-Phillips has symbolically submitted reviewed data on credit investment calculation of US$104.17 million on 30 January 2009. The credit investment is a package of incentive that the government offered to stimulate investors to invest in oil and gas sector.

"KPK appreciates the six contractors which have contributed to an attempt to save state finance, uphold law and prevent corruption," said KPK Head Antasari Azhar. 

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Translated by: Ariyantri E. Tarman