Oil contractors transfer Rp 2 t in restoration funds to state

The Jakarta Post, Jakarta | Thu, 03/19/2009 5:28 PM

A number of oil and gas contractors have transferred Rp2 trillion (US$ 166.6 million) in restoration funds to the state on a recommendation from the Corruption Eradication Commission (KPK), Energy and Mineral Resources Minister Purnomo Yusgiantoro said.

Antara state news wire has reported that the contractors transferred the funds through the Oil and Gas Regulatory Body (BP Migas) at the KPK building here on Thursday.

Purnomo said the restoration funds were consisting of $ 45.52 million from state-owned oil firm PT Pertamina EP, $10.89 million from PT Medco E&P, US$5.21 million from Kondur Petroleum SA, $809.9 thousands from Kangean Energy Indonesia and $448.7 thousands from Kalrez Petroleum Ltd.

The minister said the funds were usually kept in the contractors' accounts had now been transferred to the government's account.

KPK Chairman Antasari Azhar appreciated the government and the contractors for their immediate response to the anti-graft body's recommendation.

The KPK chairman said that the commission has issued the recommendation because it saw that the oil and gas sector was not managed well.

"This is proof of an effort to prevent a potential loss and to return the money to the state," Antasari said. (ewd)