Total to operate only one rig in Mahakam this year
Tuesday, February 23 2016 - 03:02 PM WIB
Total EP Indonesie (TEPI), the operator of the Mahakam block in East Kalimantan, will drastically cut the number of rigs in the block, leaving only one in operation until end-2016.
TEPI now operates three drilling rigs, including two leased from IDX-listed PT Apexindo Pratama Duta Tbk. and one from Japan Drilling Co. The rigs are Hakuryu, Maera, and Raniworo. Two of the rigs will be returned to the owners starting April of this year, a Petromindo?s source said.
"In April, rig Raniworo will be returned. Rig Hakuryu owned by Japan Drilling Co. will be returned in mid-July, and rig Maera will be maintained until September this year. It also depends on world oil prices," the source said.
In 2017, there is no more drilling activity in the block, according to the source.
When asked for confirmation, Manager of Corporate Finance & Investor Relations at Apexindo, Paolo Kartadjoemena said to Petromindo.com that starting in the second half of this year, his company will only one rig -- swamp barge Maera ? still in operation in Mahakam.
?We have other rigs that were once used in Mahakam and now have yet to receive any contracts since they were customized for swampy areas like the Mahakam block," he said.
The cooperation between Apexindo and TEPI began in 1992 with the swamp-barge Maera starting its first drilling operations in Mahakam Delta.
Editing by Johannes Simbolon