Apexindo gets US$22.3 m geothermal drilling contract

JSX-listed drilling firm PT Apexindo Pratama Duta said Monday it has won a contarct worth US$22.3 million from Star Energy Holdings Pte Ltd and Magma Nusantara Limited which operates in geothermal power energy in Indonesia.

Based on the contract, Apexindo will carry out drilling for the Wayang Windu geothermal power project which is located in Pengalengan, West Java, Apexindo's president Hertriono Kartowisastro said.

Apexindo will begin the work in August 2006 and deploy the company's Rig 5 for a minimum period of one year with option for extension. "The geothermal project will make our Rig 5 work at maximum rate this year," he said. He added that currently Rig 5 is being used for Pertamina-Amerada Hess project in Jambi Merang, Jambi.

Hertriono said geothermal drilling provides a good chance for Apexindo to expand the business. "We have drilling capabilities that meet international quality and standards of safety," he said.

He said further that Apexindo had succeeded in conducting geothermal drillings for Unocal Geothermal Indonesia, Karaha Bodas Co, PLN Geothermal Flores and Gunung Salak Geothermal Power Plant which is managed by Chevron Geothermal Ltd. (*)