Apexindo wins new, extension contracts worth 57.7 million usd

Jakarta (ANTARA News) - Publicly listed PT Apexindo Pratama Duta (Apexindo) has been awarded new and extension contracts on oil rig projects worth US$57.7 million, an executive of Apexindo said.

"We have won a contract extension on a swampbarge rig project Raissa, in Tanu oil field, Kalimantan worth US$57.7 million. Besides, We also won a new contract on its onshore field worth US$4.6 million," Agustinus Lomboan, Apexindo`s finance director, said here on Thursday.

He said that the extension of the contract for another three years would contribute to the strengthening of the cash flow of the company in the future. Besides, the extension and new contracts would also reduce uncertainties to be faced in the future, he said.

Lomboan said the increase in rigging business activities in the country created positive impact on the company where Apexindo had been proactive in taking part in various rig project tenders both for offshore and onshore.

"We will try our best to maintain consistency in increasing the company`s efficiency drive and boosting corporate growth in both offshore and onshore rigging business," he said.

He added that Apexindo also hoped that it would be able to increase its profitability and sustainability in order to guarantee higher turn out for shareholders.