In operating Indonesian PSCs, lifting variances occur between the Contractor and the Government and
are settled at year-end.
The variance is audited by Price Waterhouse Coopers. The US$1.029M payment is for the over/under lifting true up of the Arun Certificate for the 2010 & 2011 years.
The payment will be in addition to US$1.440M in other payments received from the GOI in the last two
months. TPI is expecting receipt of these funds in early March 2013.
Bloody good work management
In operating Indonesian PSCs, lifting variances occur between...
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