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Article: Australia : PTTEP Estimates Costs of Timor Sea Oil Spill at A$177 Million.
- Article from:
- TendersInfo
- Article date:
- October 30, 2009
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Byline: manish03
PTTEP Says Spill Costs Have Reached A$177 Million (Correct)
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By Jason Scott and Ben Sharples
Oct. 29 (Bloomberg) -- PTT Exploration & Production Pcl, operator of a well that s spilling oil into the ocean off northwestern Australia, said provisions against costs for the leak have reached A$177 million ($160 million).
The expenses won t be completely covered by insurance, Jose Martins, PTTEP Australasia chief financial officer, said in Perth today. Production from the Montara field, originally planned for this quarter, may now start in mid-2010, he ...