Century CEO, Robert Hackett, is pleased with the deal that points towards a brighter future for his company. "The contract with Caltex marks Century's renewed success in Indonesia, having been prominent in onshore exploratory drilling in Indonesia during the 1980s and 90s [and] will increase utilisation of the rigs we currently market from 45% to 65%."
"This is clearly heading in the right direction compared to the low levels of activity and rig utilisation in recent years," said Hackett.
"Century is the first western drilling company to be awarded work in the Duri area for many years and places the company in a strong position for further work," added Hackett.
The initial drilling contracts will make use of two Century onshore rigs already in the SE Asian nation and comes on the back of an A$8.5 million contract to install geothermal steam for the Lihir gold mine's 30 mW power plant.
