ENERPROCO announces it has filed a Request for Arbitration against TIMOR GAP for breaching a contractual agreement.

 

Houston, TX (U.S.A.), Friday, May 3, 2024, 11:05 CST;  ENERPROCO LLC (part of ENERPROGROUP), a US’ state of Texas-based Oil & Gas Production Enhancement Technologies Company (“ENERPRO”) has filed a Request for Arbitration (the “RFA”) at the ICC International Court of Arbitration Singapore for a contract dispute resolution against TIMOR GAP, E.P. (“TIMOR GAP”), a State-Owned Corporation and National Oil & Gas Company of THE DEMOCRATIC REPUBLIC OF TIMOR-LESTE.

 

This contract dispute arises from TIMOR GAP’s material breach of service agreement in respect to Bayu Undan Phase 2 Carbon Capture and Storage (“CCS”) (the “Project”).  

 

In a statement and RFA filing as of 3 May 2024, the RPC PREMIER LAW Team said the RFA advances claims to TIMOR GAP and its Management Team for: (i) a material breach of service agreement by repeatedly failing to make full payments to ENERPRO despite TIMOR GAP’s requests for technical presentations and workshops, reports’ re-submissions, and follow-ups letters and emails; and (ii) deceitful promises (with hard evidences) to pay in-full all ENERPRO’s overdue invoices that never materialize.

 

ENERPRO is herein seeking a financial amount for all the technical services rendered, damages, interest, penalties and administrative charges, arbitration costs, counsels’ costs and expenses, disbursements and reliefs as the ICC Arbitral Tribunal Singapore deems appropriate.

 

For the avoidance of doubt, the ICC International Court of Arbitration’s drawn-out processes for a contract’s dispute resolution (per TIMOR GAP’s delinquent debt) will negatively impact the reputation and creditworthiness of TIMOR-LESTE (due to a serious delinquency by TIMOR GAP). This subsequently exacerbates when TIMOR-LESTE’s sovereign credit and debt distress ratings are ensuing, further destroying the country’s attractiveness to foreign investors, long-term investments between geopolitically distant countries, sustained growth, and economic development.

 

The International law firm and commercial litigation and disputes powerhouse, REYNOLDS PORTER CHAMBERLAIN LLP (https://www.rpc.co.uk/) in Singapore - RPC PREMIER LAW PTE. LTD’s Team represents ENERPRO.

 

Press Contact:

For more information, please contact us at admin@enerproco.com.

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