Apexindo wins contract for drilling at Ulubelu geothermal site, Indonesia
Ulubelu Unit 3 & 4, Lampung, Indonesia (source: Sidiq Nurbiyantoko)
Carlo Cariaga
6 Sep 2022
Apexindo has been awarded a USD 15.8-million contract by PGE to drill six wells at the geothermal site in Ulubelu in Lampung, Indonesia.
PT Apexindo Pratama Duta Tbk (Apexindo) has been awarded a USD 15.8-million contract by PT Pertamina Geothermal Energy (PGE) to drill six geothermal wells at the Ulubelu area in Lampung, Indonesia. This was announced by Apexindo President and Director Zainal Abidinsyah Siregard in a written statement.
“The acquisition of this tender will have a positive impact on the level of rig utilization and the company’s operating income,” he said.” said Zainal. This is good news for the Indonesian drilling company following a reduced land rig utilization rate in 2021 because of a decrease in oil and gas activity and increased competition in tenders, as we had previously reported.
Between Units 1 to 4, the Ulubelu Geothermal Area as a total installed capacity of 220 MW. Units 1 and 2 are operated by state-owned electricity firm PLN, while Units 3 and 4 are operated by PGE. Earlier this year, PGE announced plans of putting up the first green hydrogen production facility in Ulubelu with a target to start by 2023.
Source: Investor.id
