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| Oilex in $4.1m dispute with JV partner |
| 08/Feb/2010 Intellasia | IBTimes |
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| 8 Feb, 2010 - 10:40:19 AM |
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Australian oil and gas company Oilex says its subsidiary Oilex (West Kampar) continues to seek resolution of disputes with Indonesian joint venture partner PT Sumatera Persada Energi.
OWK is claiming more than $4.1m owed under the West Kampar farmout agreement terminated in January 2009.
An arbitration hearing in the International Chamber of Commerce in Singapore is scheduled to continue on February 18 and 19.
PT Asiabumi Petroleo, SPE's parent company, has also notified OWK of a claim filed on January 25 in an Indonesian court.
Oilex says OWK understands that SPE is 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 rejects the allegations in the claim and, if served, will vigorously oppose the claim.
'OWK's endeavours to engage with representatives from SPE and Asiabumi to reach a commercial resolution to the disputes have not been successful to date.'
http://www.ibtimes.co.uk/articles/20100205/oilex-in1m-dispute-with-jv-partner_all.htm
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