Apexindo secures repeat drilling contract from affiliate
Wednesday, May 10 2006 - 01:41 AM WIB
Publicly listed drilling contractor PT Apexindo Pratama Duta had signed an extension contract worth US$1.87 million to carry out onshore drilling program at JOB Pertamina-Medco E&P Tomori Sulawesi?s operating area in Central Sulawesi.
In a statement to the Jakarta Stock Exchange Apexindo said the contract was first amendment order from the previous one for its 1500-horse power rig. The rig utilization will be extended to Oct 24 this year.
The JOB is currently developing the Senoro gas field, which has an estimated 1.29 trillion cubic feet of gross proved and probable gas reserves.
Apexindo is a 77.53 percent-owned subsidiary of oil and gas firm PT Medco Energi Internasional Tbk. (Godang)