Thiess secures $37.7 million contract from Caltex

Mining contractor PT. Thiess Contractor Indonesia announced Monday it had secured a two-year contract worth US$37.7 million from PT Caltex Pacific Indonesia (CPI) to carry out construction and maintenance activities at the latter?s Duri and Minas oil fields in Riau province.

?The award of this contract is a significant milestone for Thiess Indonesia, as it is the first major multi-disciplined Oil and Gas project secured by the new Thiess Indonesia Oil and Gas group, which has recently been established to develop a new business stream in Oil and Gas Construction in Indonesia,? Thiess Indonesia president Bruce Munro commented in a statement.

Thiess Indonesia, a unit of Australian company Thiess Pty. Limited, currently engages in mining contractor activities in Kalimantan, Sumatra, West Nusa Tenggara and Papua.

CPI is a subsidiary of US based ChevronTexaco. In 2002, CPI had total production of nearly 600,000 barrels of oil equivalent daily in 2002, accounting for about half of Indonesia?s oil production. (robert)