JAKARTA (Yosefardi) – PT Sugih Energy (SUGI) Tbk has secured a US$50 million contract from PT Vico Indonesia for a period of two years.
Under the contract, PT Resources Jaya Teknik Management Indonesia (RMI), subsidiary of Sugih Energy, will provide 1500 HP Fast Moving Drilling Rig Services for a period of two years.
“We hope the Vico project will contribute to the company’s financial performance in the coming years,” said Sugih Energy, owner of 51% shares in RMI, said.
Sugih Energy shares ended lower by 1.08% to Rp460 Monday (June 10) with over 76 million shares exchanged hands. The stock has gained substantially by more than 300% since October 2012.