KS Energy awarded $2.8m drilling contract
Friday, November 20 2015 - 12:01 PM WIB
SGX-listed KS Energy Limited announced on Friday that a consortium of PT Atlantic Oilfield Services, a subsidiary of KS Drilling Pte. Ltd. and PT Java Star Rig, a joint venture of KS Drilling, has been awarded a contract for the ?KS Java Star? jack-up drilling rig.
The work in Indonesian is expected to begin in December 2015. The expected value of the new contract is approximately US$2.8 million, the firm said, while providing no further details.
KS Drilling, an 80 percent-owned subsidiary of the company, is an investment holding company. The main activities of its subsidiaries are in the provision of onshore and offshore drilling services, rig management and support services, oilfield equipment ownership and leasing.
Editing by Johannes Simbolon