KS Energy, PDSI clinch $98m drilling contract
Tuesday, July 12 2011 - 02:16 PM WIB
Singapore-listed firm KS Energy Limited announced Tuesday that one of its drilling related subsidiaries, together with its consortium partner, PT Pertamina Drilling Services Indonesia (PDSI), have been awarded a contract, by a major oil company operating in Indonesia, to provide development drilling rig services worth approximately US$98million.
The contract term is estimated to be 42 months from commencement of drilling operations, which is expected to start early 3Q next year.
The company did not give detail about the client.
PDSI is a subsidiary of state oil, gas company PT Pertamina (Persero). (romel)