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Our Bureau

Chennai , May 19

Aban Loyd Chiles Offshore Ltd has informed the stock exchanges that it has commenced negotiations to acquire a 52 per cent stake in PT Apexindo Pratama Duta Tbk of Indonesia.

PT Apexindo Pratama is an onshore and offshore drilling company. It has five offshore and 11 onshore drilling rigs. The company is also into drilling geothermal wells and has done geothermal drilling jobs for Chevron.

Sources in Aban Loyd said the Apexindo is also getting a new rig builtAban Loyd is primarily interested in acquiring the rigs.

More Stories on : Mergers & Acquisitions | Petroleum

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