Apexindo, Vico renew contract

JAKARTA, Jakarta Post: A local oil drilling firm, PT Apexindo Pratama Duta, has received another 2.5-year contract worth US$71 million to conduct drilling in the U.S.-based oil company Vico's oil and gas concession in East Kalimantan.

Apexindo president director Hertriono Kartowisastro said Wednesday that Vico would use Apexindo's two drilling rigs, Rig 9 and Rig 10, to carry out the drilling work at a contract value of $34.8 million and $35.7 million, respectively.

"This is the biggest land-drilling contract that we have got so far," Hertriono said.

Apexindo has conducted drilling work at Vico's Kalimantan oil field for almost two decades. --JP