Total, Apexindo sign extended rig contracts

By Godang Sitompul

Total E&P Indonesie and PT Apexindo Tbk will sign on Monday (18th February 2013) extended contracts of leasing five rigs at the value of US$ 590 million.

"We?ll extend the leasing contracts of 5 rigs from Apexindo. The five rigs comprise of 3 swambarge rigs and 2 jackup rigs. This has proven that we care about local content and are not influenced by the certainty issue of our block contract extension after 2017,? Kristanto Hartadi, Head of Media Relations Department with Total EP Indonesie, told Petromindo.com in Jakarta on Saturday.

Kristanto pointed out that the agreement on the extended rig leasing contract between Total E&P Indonesie and Apexindo was a follow-up step of the general tender process agreed in the middle of 2012 for Rig Yani, Rig Maera, Rig Raisis, Rig Raniworo and Rig Soehanah.

"The contract value of the five rigs is US$ 590 million (about Rp 5,4 trillion), with a local content of 76 percent or a value of US$ 450 million (about Rp 4,2 trillion)," he said.

Editing by Benget Besalicto Tnb.