Pertamina definition
Examples of Pertamina in a sentence
The Defendant had entered into an operations cooperation agreement (in Indonesian, a Kerja Sama Operasi, or “KSO”) with PT Pertamina EP (“Pertamina”), a state-owned entity in Indonesia, for the exploration, development, and production of oil and gas in the West Jambi area of South Sumatra, Indonesia.
The rationale for this provision is that by virtue of Pertamina granting cost recovery to the PSC contractor in accordance with other PSC provisions that all property purchased by the PSC contractor is thereby reimbursed and in effect actually paid for by Pertamina.
Gulf acknowledges that Pertamina is the manager of oil and gas assets in Indonesia, and that Pertamina has subcontracted through the PSCs the management of such assets to Affiliates of the Company and that, as a result, the actions of Gulf hereunder are subject to the same control by Pertamina as would the actions of the Company in connection with such assets.
At the request of the Company, Gulf shall also provide all reasonable cooperation and access to Pertamina or any government official in the event that Pertamina or such government official shall request or undertake an audit of any Fees paid by the Company to Gulf hereunder.
Conclusive evidence clauses are a reasonable risk allocation device where the customer is a commercial entity: Pertamina at [60]– [61].