Husky-CNOOC fined in KPPU bid-rigging case

( November 15, 2016, 07:49 GMT | Official Statement) -- MLex Summary: Indonesia's Business Competition Supervisory Commission, or KPPU, has found that Husky-CNOOC Madura Ltd and China Oilfield Services Ltd's Indonesia-based subsidiary, COSL INDO, colluded in a tender for a drilling rig. Both companies have denied the allegations, but the KPPU maintained that collusion and affiliation between the two firms was evident. Husky-CNOOC Madura, a production sharing contractor authorized to conduct exploration and exploitation of oil and gas in the Madura Strait, was fined 12.8 billion rupiah ($960,000), and COSL INDO was fined 11.6 billion rupiah ($870,000).The regulator's statement follows: ...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.

Know what others in the room don’t, with features including:

Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Prepare for tomorrow’s regulatory change, today

Related Sections