PT Apexindo Wins Iranian Drilling Contract

Rigzone.com, 7/1/2003 --- PT Apexindo Pratama Duta has been awarded a $50 million offshore drilling contract from Statoil for work in Iran's South Pars block. The agreement was signed last week in Tehran. Drilling is expected to commence by the end of the year. PT Apexindo is a subsidiary of Medco Energi.

Keppel Delivers Newbuild Barge for PT Apexindo

Rigzone.com, Keppel FELS 5/30/2003 --- Keppel Offshore & Marine has successfully delivered a posted submersible drilling barge on time to PT Apexindo Pratama Duta Tbk.

Yani Rig 104, a newbuild order, was delivered to PT Apexindo within a short span of 7.5 months. She is the third of three posted submersible drilling barges to be delivered to the client.

Yani Rig 104 sails off today to join her sisters, Raissa and Maera 101 in the inshore Tunu field, Balikpapan in East Kalimantan for TotalFinaElf Indonesia.

Said Mr. Choo Chiau Beng, Chairman and CEO of Keppel O&M, "PT Apexindo has been growing their fleet of drilling barges to cater for shallow draft in the mangrove swamp areas. We are privileged to be able to take part in their expansion plans.

"This is the third barge we've delivered. I believe Yani Rig 104, together with her sisters, will add further value for our customer."

Mr. Pierre Sanchez, Project Manager for PT Apexindo said, "The Yani Rig 104 project was challenging because of its short completion deadline. The yard had to be flexible in adapting to changing production requirements, yet ensuring that the job would still be delivered on time.

"The Keppel FELS engineering team has shown great professionalism in managing this project."

Keppel O&M was awarded two earlier contracts by long-time customer PT Apexindo, for the new construction of drilling barge Raissa as well as repair and refurbishment of Maera 101.

Yani Rig 104 is a further enhancement of Maera 101 in terms of design arrangements.

Keppel FELS Completes Raissa Inland Barge for PT Apexindo

Rigzone, Keppel FELS 3/3/2003 --- Keppel Offshore & Marine Group has completed the Raissa, a posted submersible drilling barge for Indonesian drilling contractor PT Apexindo Pratama Duta Tbk.

Keppel FELS Limited has earlier been chosen as the preferred partner for PT Apexindo's drilling fleet build-up and enhancement.

The Company signed the $29 million contract for Raissa in May 2002, followed by a refurbishment contract for drilling barge, Maera. Another similar newbuild order for the Yani was signed in October last year.

All three drilling units will be deployed in the Tunu field, East Kalimantan, for TotalFinaElf Indonesia.

Said Mr. Choo Chiau Beng, Chairman and Chief Executive Officer of Keppel O&M, at the naming ceremony of Raissa held in Keppel FELS Pioneer Yard today, "I am happy that through the projects with PT Apexindo, we are able to offer fit-for-purpose solutions for enhanced drilling activities in Indonesia.

"In so doing, we have strengthened our participation and track record in the growing markets of inshore drilling and will exploit opportunities in other shallow regions in Asia Pacific, USA, and northern parts of the Caspian Sea."

"Our investment in Raissa is one of significant strategic value for Indonesia's oil & gas industry. The industry's growth and sustainability in the long term is dependent on the on-going development of production infrastructure including drilling capabilities such as those of Raissa.

"Raissa's construction and assignment to the gas fields of East Kalimantan also reflects the confidence of major international oil companies in Indonesia's continued global leadership in LNG production," said Mr. Hertriono Kartowisastro, President Director of PT Apexindo.

Three Keppel yards, led by Keppel FELS Limited were involved in the construction of Raissa.

Keppel FELS was involved in the engineering and project management of Raissa, and provided the expertise to build the cantilever and drillfloor structures.

Keppel Singmarine built the main hull and upper decks, while Keppel Shipyard (Benoi) constructed the living quarters and the helideck.

Showcasing high commitment to safety standards, the Keppel yards achieved more than one million man-hours without reportable accidents during construction.

The construction of the 244-ft Raissa involved detailed engineering, fabrication and procurement as well as installation of the owner's supplied equipment.

It is capable of oil and gas exploration in water depth up to 7.62m (25 ft) and will have a drilling depth capability of 7,600m (25,000 ft).

PT Apexindo Pratama Duta Tbk, is the first drilling contractor to be listed on the Jakarta Stock Exchange. The company specializes in both onshore and offshore activities. It owns 12 onshore drilling rigs after merging with PT Medco Antareja in December 2001. PT Apexindo currently owns and operates two submersible swamp barges contracted by TotalFinaElf Indonesie and one jack-up rig in the Middle East.