Apexindo gets drilling contract from Medco

Publicly listed drilling contractor PT Apexindo Pratama Duta Tbk said on Wednesday that it had signed letter of intent with publicly-listed energy firm Medco Energi International for a contract on a land rig project.

 

The company would use its Rig 15 to carry out drilling actvities in Medco's Tunas well in South Sumatra, the company said in a statement, adding the value of the contract was US$863,000.

 

The drilling project is expected to be completed in October 2007, it said.

 

Apexindo is a subsidiary of Medco. Both are listed on the Jakarta Stock Exchange. (denny)