Apexindo gets onshore drilling contract from VICO

JSX-listed drilling firm PT Apexindo Pratama Duta Tbk has bagged a contract to undertake an onshore drilling project in Badak, East Kalimantan for VICO Indonesia.

?Apexindo obtained a one year contract worth approximately US$13.2 million as the company receives the Letter to Proceed (LTP) confirmation for Rig 5 from VICO,? the company said on Wednesday.

The drilling project with VICO is scheduled to commence by November 2007 and the rig is currently in mobilization process to VICO?s location in Badak, it said. (denny)