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Apexindo secured an oil and gas drilling contract worth USD 22.4 million

09 December 2021 12:11

JAKARTA – PT Apexindo Pratama Duta Tbk (APEX), an offshore drilling service provider, obtained an offshore oil and gas field drilling contract east of Kalimantan from PT Pertamina Hulu Kalimantan Timur (PHKT) worth USD 22.4 million. Vice President Director of APEX, Erwin Sutanto, relayed the news in the information disclosure quoted Thursday (9/12).

It was mentioned that the company received the announcement of the tender winner of PHKT yesterday (7/12). “The contract includes the drilling of seven wells with a contract duration of the next 12 months after receiving the tender winner contract,” Sutanto said.

According to Sutanto, the said contract procurement would increase the utilisation of rigs owned by the company and boost its revenue.

As of September 2021, APEX was yet to obtain the said contract from PHKT. In comparison, it managed to secure a contract worth USD 5.35 million in the same period last year. The company’s revenue reportedly reached USD 41.66 million. It comprised revenue generated by the drilling service of USD 30.34 million, mobilisation and demobilisation services of USD 5.17 million, and other services of USD 6.14 million. (LK/ZH)

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