PDSI to increase rigs significantly
Monday, April 16 2012 - 06:22 AM WIB
PT Pertamina Drilling Service Indonesia (PDSI) has allocated for 2012 a total capital expenditure of Rp 2.4 trillion, which will be mainly spent on buying new rigs. As of April this year PDSI only has 32 units of onshore rigs and no offshore rigs.
?We?ll use part of the capex to buy 8 new rigs this year. With the new purchase, then we?ll have 40 units and we?ll operate 8 rigs under partnership with others at the end of this year,? PDSI President Director Amran Anwar said in Jakarta on Monday.
According to Amran, increasing number of owned rigs is now the priority of PDSI. Based on its long term plan, by the year 2015 PDSI will have increased its rigs to at least 82 units of onshore rigs and 3 units of offshore jack up rigs. Then further increase is expected for the company to own 100 units of onshore rigs and 6 units of offshore jack up rigs.
He said that PDSI needed to increase its units of rigs to meet the rising demand for internal use among subsidiaries of the state oil and gas PT Pertamina and to serve the needs of other companies outside of the group.
He said that for internal use, Pertamina EP alone needed about 65 rigs. PDSI so far can only meet around 65 percent of Pertamina EP?s demand. It has targeted that it will be able to fulfill at least 75 percent of the demand.
Pertamina Hulu Energy (PHE) needs about 25 onshore rigs and 6 units of offshore rigs. So far PDSI cannot yet meet PHE?s need for offshore rigs. ?This is an opportunity for PDSI. We?ll be participating in its tender this year,? Amran noted.
He said that PGE needed about 6 rigs, while PDSI could only meet about 50 percent of the need. ?In the future we target to be able to fulfill at least 75 percent of PGE?s need of rigs,? he said.
Besides, he noted that Pertamina had also entered new projects, such as coalbed methane (CBM) and shale gas, which also need rigs for explorations. For example, PHE now needs 2 units of rigs for the CBM exploration.
PDSI has also prepared itself to do orders from other firms outside the Pertamina group. So far it has secured such order from Mobil Cepu Ltd for drilling in Cepu block. ?Currently, the rig for Cepu is being made in Batam. Hopefully, it can be finished in September so that drilling can be started in the block in the same month,? he said.
PDSI is also eyeing the offshore drilling, which is never conducted by the company before. It is now participating in the offshore drilling tenders by PHE ONWJ, PHE WMO, and Chevron.
To enable PDSI to participate in the offshore drilling activities, it is preparing investments to buy jack up rigs. This year alone, of the total 8 rigs to be bought, one will be offshore rig, which is jack up rig for 300ft water depth with 3.000 HP. By the year 2015, PDSI will have 3 units of jack up rigs.
?We?re also preparing our human resources. Early this month we?ve sent around 15 workers to be apprenticed as operators of jack up drilling in Egypt.
But overall, PDSI is one of the leading company in the business of drilling in Indonesia. Of the total market value of onshore drilling of US$715 million, PDSI gets a share of 35 percent with a revenue of around US$250 million per year.
Editing by Benget Besalicto Tnb.