Media Release
On 7 August 2020, the Autoridade Nacional do Petróleo e Minerais (ANPM) and the joint venture for Production Sharing Contract JPDA 06-103 (PSC) agreed to settle all claims and counterclaims in the arbitration proceedings commenced by the ANPM on 8 October 2018 under the PSC. The parties have agreed to settle the arbitration on the basis of a confidential settlement sum payable by the joint venture to the ANPM.
The joint venture comprises Oilex (JPDA 06-103) Ltd (the Operator), Japan Energy F&P JPDA Pty Ltd, Videocon JPDA 06-103 Limited, GSPC (JPDA) Limited, Bharat Petroresources JPDA Ltd and Pan Pacific Petroleum (JPDA 06-103) Pty Ltd.
