CPIL will be charged US$90,000 per day for three firm wells, US$82,400 per day for additional wells drilled and US$800,000 mobilisation fee.
CPIL has plans to drill three firm wells over ninety days. It has the option of drilling for additional wells, which will take around 120 days overall. The location of the drilling was not specified.
The Atwood Beacon will commence work on the CPIL wells once it completes its current contract with Petronas off the coast of Malaysia in June 2004. However, execution of a formalised contract between CPIL and Atwood must first receive final approval from the Indonesian government.
