Logindo acquires new contract from Eni SpA

IDX-listed PT Logindo Samudramakmur Tbk, which provides support vessels for oil and gas operations, has obtained a new US$27 million contract to serve Eni SpA?s project in Muara Bakau PSC, East Kalimantan, Kontan reported on Tuesday.

?The contract is for three years and starts in November,? said Sundap Carulli, Finance Director of Logindo.

He said that the Eni project will require huge vessel with a capacity of 12,000 horse power (HP).

Sundap said that Logindo was also eyeing to win a much greater contract worth $96 million to serve Chevron?s Indonesia Deepwater Development project.

Logindo has recently acquired to new vessels, each with a capacity of 8,000 HP, expanding the number of its fleet to 61. It plans to acquire two additional vessels, and is seeking bank loans to help finance the vessel expansion, Sundap said. (*)