Apexindo to draw damaged rig from Mahakam this year

By Febry Silaban

IDX-listed drilling company PT Apexindo Pratama Duta Tbk. is preparing to draw its damaged rig, Raissa, from its current location to the nearest yard.

"We are currently assessing the economic aspects of plan, including the yard?s distance, costs, and time. The rig is expected to be moved from its current location to the nearest yard this year," Corporate Finance Manager of Apexindo, Pretycia Darma told Petromindo.com.

She explained that her company has received the full payment of its insurance claim worth US$90 million from PT Asuransi Sinar Mas

‪This insurance claim was filed following a blow-out incident in 2013 caused by shallow gas release, in the Mahakam block, East Kalimantan operated by French firm Total EP Indonesie. Most of the physical structure of the Raissa rig was destroyed as a result and the rig has since been unable to operate. The rig is still located in Handil, East Kalimantan on a stand-by status.

Editing by Johannes Simbolon