Petroselat Ltd, the subsidiary of PT Sugih Energy Tbk (SUGI) was declared bankrupt on July 5, 2017.┬áSince then, there have been several reports on the Company’s effort to find investors to continue their project in the Selat Panjang block. However, until today, nothing happened yet. Recently, the team of curators gave statement regarding changes in the amount of debts to be paid and the continuity of the project in Selat Panjang. The problem is, the Government wishes to terminate their contract, but Petroselat have no solid assets and if the contract with the Government is terminated, the creditors will get nothing.To subscribe please click here