APEX Secured US$86.7 Million Worth of Rig Contracts from PHM

By Editorial Team 12/04/2021
Summary

PT Apexindo Pratama Duta Tbk (APEX) intends to boost its performance this year by improving the capacity utilization rate, especially in the offshore rig segment. So far, Apexindo has secured contracts worth US$86.7 million for two projects in the second quarter of 2021.

The first contract, worth US$68 million, allows the company to operate PT Pertamina Hulu Mahakam’s (PHM) Rig Yani for 1.5 years, while the second one, worth US$18.7 million, is for Rig Maera’s operation. "We estimate that this year’s revenue will be better than that of 2020 and generate more profits for the company," APEX General Manager of Corporate Finance & Investor Relations, Pretycia Darma, stated on Friday (4/9).

Hopefully, PHM can fully utilize all of its offshore rigs this year. To meet this target, Apexindo will actively participate in tenders that are suitable for the rigs, either from operational or economic perspectives. "We hope we can meet the target with the government’s support in realizing investments in the upstream oil and gas sector and ensuring the implementation of the drilling program scheduled this year," Pretycia continued.

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