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SOUTHEAST ASIA Tengku Muhammad Taufik also pointed the Guarantee; Rubicon, KEGOT and the
out that it is important to address the energy Company shall discontinue any legal action
Petronas calls for stronger trilemma of security, sustainability and and/or claims in relation to the Bareboat
Charter and/or the Guarantee and agree to
affordability.
collaboration on energy PETRONAS, November 19, 2020 bring no claims arising out of or in relation
to such documents in the future; Maritime,
transition KrisEnergy, Rubicon reach KEGOT and the Company shall discontinue
any legal action and/or claims in relation
As more countries in Southeast Asia make settlement to the O&M Contract and/or the O&M
strides towards embracing the global energy Guarantee and/or the demand under the
transition, PETRONAS has called for a KrisEnergy, an independent upstream oil O&M Guarantee and agree to bring no claims
stronger collaboration amongst ASEAN and gas company, wishes to update that it has arising out of or in relation to such documents
governments, energy players as well as the today, together with (a) KEGOT; KrisEnergy in the future; and Rubicon will withdraw its
public and private sectors to collectively (Aspara); KrisEnergy (Cambodia); statutory demands against KEGOT in the
leverage on each other’s strengths in achieving and KrisEnergy Marine, entered into a Cayman Islands.
a sustainable, low-carbon future. settlement deed with Rubicon and Maritime Rubicon will file a proof of debt for the
To date, ASEAN member countries have International Services to, among other things, sum due to the Rubicon Parties under the
collectively endorsed ambitious targets that fully and finally settle any and all claims which Settlement Deed of US$15,302,415.02 in
seek to improve the rate of energy efficiency each of the Rubicon Parties have against the the scheme of arrangement pursued by the
improvement, limit emissions from fossil fuels KrisEnergy Parties and vice versa save for the Company in HC/OS 1031/2020 in the High
and expand the role of renewables especially settlement sum relation to the disputes under Court of Singapore. The Rubicon Parties
in the power sector – positive signs that the the bareboat charter and O&M contract. agree that the filing of the Proof of Debt and
region is moving in the right direction. The settlement sum is an aggregate of the any distribution shall constitute full and
In a special address titled ‘Southeast Asia total amount which could be owing from the final settlement of the Settlement Sum. The
Energy Outlook in a Global Context’ at KrisEnergy Parties to the Rubicon Parties, Rubicon Parties agree that, in the event that
the opening of the virtual ASEAN Energy including contingent claims. they (or each of them) fail to file a proof of
Business Forum (AEBF) 2020 yesterday, KrisEnergy (Apsara) will enter into a debt including the Proof of Debt, any claims
PETRONAS President and Group Chief new bareboat charter for the hire of a vessel, which they have against the KrisEnergy
Executive Officer Tengku Muhammad Taufik Rubicon Vantage, from Rubicon. The terms Parties, including any claim for the Settlement
said: “While the region has made a start of the FSO BBC will be based on the BIMCO Sum, will be forever waived, released,
towards carbon neutral energy pathways, Barecon 2017 Form of Charter and the discharged and extinguished.
there remain further opportunities to charterhire payable is at market rate. Rubicon The Rubicon Parties have undertaken to
strengthen regional cooperation and create Vantage will be used in the Cambodia Block A vote in favour of the Scheme in respect of the
the right eco-system to promote a wider usage Apsara oil field. Settlement Sum (to the extent it is admitted by
of energy from clean and sustainable sources, Rubicon shall immediately upon the Chairman).
particularly solar and wind. The shift towards execution of the settlement deed take such KRISENERGY, November 24, 2020
a low-carbon future will require coordinated steps as necessary to withdraw the winding
and collective action from all stakeholders.” up petition in the Cayman Islands against Tokyo Gas invests in
He added that government support and KEGOT; Rubicon and KEGOT will apply
intervention in developing and implementing jointly to the High Court of Justice Business Indonesian gas distributor
supportive energy policies and business-friendly and Property Courts of England and Wales for
regulations are pivotal for businesses to survive, a discontinuance of the relevant proceedings Tokyo Gas Asia, a wholly-owned subsidiary
while public-private sector collaboration in England; Rubicon shall not commence of Tokyo Gas, acquired 33.4% of the shares
will help attract technology-based Foreign any enforcement action in respect of the of an Indonesian gas distribution company,
Direct Investments as well as technology Judgement amount previously awarded by the Super Energy from its parent company, Super
proprietorships and solutions providers. English High Court in respect of claims under Capital Indonesia on November 25. Prior
to this acquisition, on November 24, Tokyo
Gas Asia acquired approximately 18% of the
shares of Energy Mina Abadi, a subsidiary
of SE which also operates gas distribution
business. This acquisition is the fifth occasion
on which Tokyo Gas has invested in a local
gas distribution company globally.
On the back of the world’s fourth largest
population and stable economic growth,
Indonesia’s demand for energy is expected to
increase over the long term. In order to capture
business opportunities, Tokyo Gas opened a
representative office in Indonesia in 2015 and
has been aggressively expanding its business.
SE company group is a gas distribution
company group mainly based in Java that
refines and compresses unutilized gas such

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