The oil and gas company said it will take the necessary steps to recover the funds involved in the fraud
The oil and gas development company has obtained an injunction order against the company believed to have committed the fraud to freeze its assets and obtain further banking information, Empyrean said in a statement.
The company announced in December last year that the deposit of US$1.98mln it sent to drilling contractor COSL to start work on the Jade prospect in China did not arrive.
In today’s statement, Empyrean said it will take the necessary steps and is taking legal advice for the purpose of pursuing recovery of the funds involved in the fraud.
It added that it will continue to cooperate with the Singapore police investigation into the fraud and has begun legal action in order to escalate the recovery process.
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