Apexindo gets $2m rig contract extension from VICO
Thursday, March 12 2009 - 03:27 PM WIB
Drilling rig firm PT Apexindo Pratama Duta Tbk reported on Thursday that it had been granted 3-month contract extension from Vico Indonesia for its drilling program in Semberah, East Kalimantan.
The contract is using the same day rate as the previous contract, with a total estimated contract valued at approximately USD 2 million, it said.
Currently, other Apexindo?s rigs, Rig 5, Rig 9, and Rig 10, are also in contract with VICO. These three contracts are estimated to be completed soonest at the end of 2009.
Currently, Apexindo owns 8 (eight) land rigs with minimum horse power at 750 HP, while Rig 8, with rated horse power of 1,000 HP, is practically capable of working efficiently and fast. (alex)