JAKARTA – PT Apexindo Pratama Duta Tbk (APEX) has secured USD 4.8 million from an offshore drilling project in the Mahakam Delta, East Kalimantan.

Frieda Salvantina, Corporate Secretary of APEX, stated that the company secured the project contract from PT Pertamina Hulu Mahakam (PHM), which was signed on Monday (24/2). "The project will last for three months from the date the contract was signed," she said in a disclosure.

She added that the project will optimise the utilisation of the company’s rigs. Additionally, the contract value will contribute to increased operational revenue.

PHM is a recurring client of APEX’s drilling services. In July and August 2024, APEX secured offshore drilling contracts in the Mahakam Delta worth USD 19.4 million and USD 14.8 million, respectively, with a project duration of seven months. (LK/ZH)