XML 45 R14.htm IDEA: XBRL DOCUMENT
v3.22.0.1

ACCRUED EXPENSES | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2021 | Dec. 31, 2020
Payables and Accruals [Abstract] |  |
ACCRUED EXPENSES | NOTE 8 – ACCRUED EXPENSES SCHEDULE OF ACCRUED EXPENSES
|  | June 30, 2021 |  |  | December 31, 2020 |
|  |  | (Unaudited) |  |  |  |  |
Accrued interest |  | $ | 144,440 |  |  | $ | 133,215 |
Accrued operating expenses (i) |  |  | 748,443 |  |  |  | 296,156 |
Total |  | $ | 892,883 |  |  | $ | 429,371 |
(i) | Accrued operating expenses are mainly due to unbilled transactions from vendors related to the operations under the current Kruh Block Joint Operation Partnership with Pertamina, the Indonesian state-owned oil and gas company (“Pertamina”), which runs until May 2030 (the “KSO”).
| NOTE 10 – ACCRUED EXPENSES Accrued expenses are comprised as follows: SCHEDULE OF ACCRUED EXPENSES
|  | 2020 |  |  | 2019 |
|  | As of December 31, |
|  | 2020 |  |  | 2019 |
Accrued interest |  | $ | 133,215 |  |  | $ | 106,563 |
Accrued operating expenses |  |  | 296,156 |  |  |  | 469,823 |
Total |  | $ | 429,371 |  |  | $ | 576,386 |
Accrued interest represented the accrual of interests from the $1,000,000 loan from Thalesco Eurotronics Pte Ltd (Note 13 LONG TERM LOAN) and accrual of interests from bank loan (Note 8 BANK LOAN). Accrued operating expenses mainly due to unpaid professional fees and unbilled transactions from vendors related to the operations in the Kruh Block TAC and KSO. During the year ended December 31, 2020 the Company wrote off a payable in the amount of $146,662 due to a vendor as it has been deemed remote for the vendor to request the Company to pay the balance.

X
- Definition The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period. + References No definition available. + Details
Name: | us-gaap_AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_PayablesAndAccrualsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration