Jakarta – PT Apexindo Pratama Duta Tbk (“Apexindo”/”the Company”) has already started to spud-in in Barakuda-1X well using Raniworo rig. Barakuda-1X is an oil and gas well that managed by Pertamina Hulu Energi (PHE) Anggursi which located in Java Sea. The project itself is coming from the amendment of agreement between the Company and Pertamina Hulu Energi Nunukan Company (PHENC), PT Pertamina Hulu Energi (PHE) Anggursi and PT Pertamina Hulu Energi West Madura Offshore (PHE WMO).

The amendment is targeting to drill 3 (three) wells using Raniworo rig, which one of the well is in PHE Anggursi working area and the other 2 (two) wells is planned to drilled in PHE WMO working area. The contract for this project is worth for US$13.7 million. To make sure that Raniworo rig is in its best condition, the Company also did some maintenance and prepared the drilling project in a shipyard that located in Balikpapan, East Kalimantan.

“Of course we are happy for this additional project which will lead to a positive increase in our rig utilization and revenue. This achievement is also along with our target to utilize all of our offshore rigs. As we know, Yani rig is currently in preparation before start working with Pertamina Hulu Mahakam (PHM) that scheduled in this second quarter. Meanwhile, Maera rig just started its high pressure high temperature drilling program with PHM in Tunu Field, Mahakam working areas,” said Pretycia Darma, General Manager Corporate Finance & Investor Relations Apexindo.

The Company is hoping supports from the Government in realizing the investment in the upstream oil and gas industry, and make sure the implementation of drilling program that has been scheduled. This also in line with the spirit and commitment of The Upstream Oil and Gas Business Regulatory Special Task Force (SKK Migas) which make sure there are no decline in this year oil and gas production, by doing a massive, aggressive and efficient. In the other hands, the Government also in commitment to increase the national industrial gas capacity. As an Indonesian company, Apexindo is ready to involve in the Government program to achieve the national lifting target.

The Government commitment also seen in the regulations that gives priority to Pertamina to manage oil and gas fields which already ended its contract with its lasts contractors. The cooperation between Apexindo and Pertamina group already started from a long time ago, since the Company established in 1984, which started with contracts to drill in the Bunyu, Donggi, and Suban onshore working areas. The additional contract that given by Pertamina for Raniworo rig is a proof that Pertamina is trusting our company, which also reflected in the contracts between the Company and Pertamina group for our swampbarge rigs and our another jack up rig, Tasha.

Ranioworo jack up rig is the first Indonesian flagged jack up rig in the world. This rig have a lot of drilling experiences in many working areas in Indonesia and also international working areas such as in Iran waters, Abu Dhabi, and Oman. Raniworo rig also holding a good record for working Mahakam working areas for 10 years.

Raniworo rig also have a good records with holding 15 years without lost time incident as long as its operation. This achievement is a world class records considering there are not many jack up rig that have a safety achievement for that long.

About Apexindo

  • Apexindo is an Indonesian company which offering onshore and offshore drilling services to oil, gas, coal bed methane and geothermal exploration and production company.
  • Apexindo is the first listed drilling company in Indonesia Stock Exchange.
  • Apexindo operating its 5 offshore rigs, and 6 onshore rigs.
  • Apexindo have more than 30 years experiences in drilling industry.
  • Apexindo have more than 20 years experiences drilling in Mahakam Block.