Indonesia’s Pertamina Awards Contract to Chinese Drilling Company CPOE
Indonesia’s state-owned oil and gas company, Pertamina, has recently awarded a significant four-year contract to a jackup rig owned by Chinese drilling contractor CNPC Petroleum Offshore Engineering (CPOE).
The contract, involving the CPOE 16 rig, marks both the rig’s and the company’s debut drilling project in Indonesia, signaling their entry into Southeast Asia’s offshore drilling services sector.
With a value exceeding 1 billion yuan ($137.7 million), this contract represents CPOE’s largest deal to date. The Chinese offshore drilling contractor, a subsidiary of China National Petroleum Corporation, has been actively pursuing its international strategy, with a particular focus on the Southeast Asian offshore oil and gas services market, where Indonesia plays a key role.
The CPOE 16 rig, constructed in 2014 by Shanghai Waigaoqiao Shipbuilding, recently underwent extensive upgrades at a China Merchants shipyard, lasting 120 days. Following the upgrades, the rig is now set to mobilize for its operations in Indonesia, marking a significant milestone for CPOE’s expansion into the region.