Apexindo secures US$22.5 million for new, extension contract

Publicly listed drilling contractor PT Apexindo Pratama Duta Tbk has obtained new contract and extension confirmations for several land rigs projects with total value of US$22.5 million.

The Company has secured contract extensions for two land rigs, Rig 9 and Rig 10 from VICO for drilling projects in East Kalimantan. The value of both contracts is about US$ 13.9 million for the period of six months, Apexindo said in statement Tuesday.

According to Apexindo, Rig 15 has also received new contract confirmation from PEARLOIL (Tungkal) Limited valued at approximately $2.6 million for a drilling project in Tungkal, Jambi.

Meanwhile, Rig 8 has won a contract from Lundin Blora BV worth around $ 2.5 million for a drilling program in Blora, East Java. Apexindo Rig 2 has also obtained contract valued around $3.5 million from JOB Pertamina-Medco Tomori for a drilling project in Tomori Block, Sulawesi.

PT Apexindo Pratama Duta Tbk is a drilling unit of JSX-listed oil and gas firm PT Medco Energi Internasional. (denny)