PTTEP Expects to Settle Montara Incident for AUD192 Million

PTT Exploration and Production Public Company Limited (PTTEP) announced on November 21, that PTTEP Australasia (Ashmore Cartier) Pty Ltd, the company participating in class action mediation, followed the normal legal process for class actions under Australian law by the 2009 Montara incident in the Australian waters.

PTTEP AAA will pay 192.5 million Australian dollars (approximately 129 million US dollars) for an in-principle agreement with the group of Indonesian seaweed farmers and the final settlement of the class action (including PTTEP AAA’s appeal) the in-principle settlement was made on a no admission of liability basis and is subject to court approval.