JAKARTA. PT Apexindo Pratama Duta Tbk (APEX), a coal and oil and gas support services company, has obtained a marine drilling contract from PT Pertamina Hulu Kalimantan Timur (PHKT).

Erwin Sutanto, Deputy President Director of APEX, said the contract is located on the east coast of Kalimantan. "The contract value is around US$13.7 million for 4 wells or a contract duration of 6 months," said Sutanto, in his official statement.

Sutanto believes that the contract acquisition will have a positive impact on APEX's rig utilization. "[as well as having an impact on] the company's operating income," said Sutanto.

Currently, APEX has not submitted its latest financial statements for the 2023 fiscal year. However, according to idnfinancials.com data, the company has managed to book revenue of US$46.87 million in the first nine months (9M) of 2023.

In trading on the Indonesia Stock Exchange (IDX) today, APEX's share price moved up 14 points or 8.67% to IDR188 per share. Meanwhile, since the beginning of this year, the company's share price has increased by 19 points or 11.31% and 54 points or 40.60% in the past year. (KR/LM)