Apexindo?s H1 earnings flat despite rising revenues
Thursday, July 31 2003 - 03:29 AM WIB
JSX-listed oil, gas drilling contractor PT. Apexindo Pratama Duta announced on Thursday that it?s the company booked Rp.44.25 billion (US$=Rp.8,500) in net profit in the first half of 2003, relatively unchanged compared to last year?s corresponding period net profit of Rp.44.2 billion.
The company said booked revenue of Rp.383 billion in the first semester of 2003 vs Rp.318.5 billion last year.
During the second quarter of this year, Apexindo won US$50 million contract to drill for Statoil ASA in Iran for three years and $ million contracts with affiliated company PT. Exspan Nusantara to employ Rig 11 to drill in east Kalimantan and Rig 15 in South Sumatra.
The company had currently 11 rigs in its fleet. (alex/robert)