Apexindo secures $71m drilling contract extension from VICO

Indonesian stock exchange-listed drilling firm PT Apexindo Pratama Duta Tbk has got contract extensions worth US$71 million from gas producer VICO for onshore drilling projects in East Kalimantan.

VICO agreed to use Apexindo's Rig 9 and Rig 10 for another two and a half years at contract values of $34.8 million and $35.7 million respectively, it said

According to Apexindo, Rig 9 and Rig 10 are among the highest powered land rigs owned by Apexindo with rated horse power (HP) of 2,000. Out of eight land rigs owned by the firm, six are rated above 1,000 HP. (denny)