Apexindo secures contract from Pertamina Geothermal

JAKARTA (rambuenergy.com) – PT Apexindo Pratama Duta Tbk (APEX), an oil and gas service provider, has won new contract from PT Pertamina Geothermal Energy (PGE) worth US$15.79 million. Apexindo will conduct drillings in onshore areas.

“The contract was signed by the two parties on Jan. 5, 2016,” President Director of Apexindo Pratama Zainal Abidinsyah Siregar in a statement on Wednesday (Jan. 6).

Zainal said based on the contract, Apexindo will drill geothermal wells in Lahendong, North Sulawesi. The steam produced from these wells will be used to generate power plant (PLTP Lahendong).

The contract will last for 18 months.

Investor Relations of Apexindo Pratama Duta Paolo Kartadjoemena said the company is assessing various options to raise funds. including borrowing from banks.

Apexindo was reportly issue global bonds worth S$500 million. The company has appointed DBS Bank, Standard Chartered Bank, and HSBC as arranger of the planned bonds issue. The tenor of the bonds would be set for three years with coupon rate of 6 -6,5 percent (*)


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