Apexindo bags $2m drilling extension contract from VICO

IDX-listed drilling firm PT Apexindo Pratama Duta Tbk has had its Rig 8 contract extended by oil and gas firm Vico Indonesia for another three months to drill the latter's wells in Semberah, East Kalimantan.

The contract extension, effective from April 28, 2009, is valued at approximately US$2 million, the company said in a statement on Friday.

In addition to Rig 8, three other onshore rigs of Apexindo, namely Rig 5, Rig 9 Rig 10, are also being used by Vico under long-term contracts worth approximately $35 million, the company added. (denny)