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Oil & Gas

Indonesia Seeks $2.5 Billion Oil Spill Payout from Australian Company

August 26, 2010
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Reports from Indonesia say the government will seek $2.5 billion in compensation from an Australian-based exploration company that was responsible for an oil spill in the Timor Sea last year. The Montara well leaked for more than 70 days, destroying fish stocks in Indonesian territory. The oil spill also polluted waters off West Timor, wiping out seaweed farms along the coast. The spill has forced some local farmers and fishermen to turn to other ways to support their families. The rig was operated by PTTEP Australasia, a Thai-owned company based in Australia. Members of the Indonesian government are in Perth meeting with representatives from PTTEP Australasia.

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