Apexindo gets $170m drilling contract
Tuesday, March 28 2006 - 12:11 AM WIB
Publicly listed drilling firm PT Apexindo Pratama Duta announced Monday that it had secured a three-year drilling contract from Santos (Sampang) Pty Ltd worth US$170 million.
In a press statement, the company said the drilling project, located in the East Java Sea, was expected to commence in the last quarter of this year. A Raniworo jack-up rig would be employed.
?We are delighted to have been able to obtain this contract. It is the largest contract in the company?s history,? said Hertriono Kartowisastro, Apexindo?s president.
The company said that the demand for jack-up rigs worldwide would continue to increase amid higher oil exploration and production in line with higher energy demand.(*)