JAKARTA – PT Apexindo Pratama Duta Tbk (APEX), an offshore mining service provider, collected USD 6.8 million after selling its asset. It is equal to IDR 101 billion, using Bank Indonesia mid-rate of IDR 14,853 per USD on August 31, 2022.
In the information disclosure quoted Friday (2/9), Mahar Atanta Sembiring, Director of Apexindo, confirmed to have divested an idle asset in the form of Raniworo rig and reassigned it to Advanced Energy Systems (ADES) SAE. “The company finished up the Raniworo jackup rig divesment yesterday (31/8),” he revealed.
Apexindo is known to have provided the rig for offshore drilling activities of its users, including PT Pertamina Hulu (PH), PT Pertamina Hulu Energi (PHE) Anggursi dan PHE West Madura Offshore, PT Pertamina Hulu Mahakam (PHM), PT Pertamina Geothermal Energy (PGE), as well as PH Mahahakam and PH Kalimantan Timur.
The currently operating rigs are Yani, Raniworo, Tasha, Raisis, and Maera rigs. Raniworo rig is running in West Madura offshore in East Java. “The divesment of Raniworo rig will affect the number of APEX’s assets,” Sembiring mentioned.
The utilisation of land rigs of APEX reportedly slid off to 1% in 2021 from the initial 4% in 2020. In exchange, the offshore rig utilisation climbed 1% year-on-year (yoy) from 54% to 55%. However, it has yet to reach the 2018 utilisation rate of 83%. (LK/ZH)