KS Java Star awarded $7.2m contract
Saturday, March 7 2015 - 04:33 AM WIB
SGX-listed KS Energy Limited announced Friday that PT Atlantic Oilfield Services, a subsidiary of KS Drilling Pte. Ltd., together with its joint operation partner, Pertamina Drilling Services Indonesia, has been awarded a contract for the ?KS Java Star? jack-up drilling rig.
Work is expected to begin in March 2015. The expected value of the new contract is approximately US$7.2 million, the firm said in a statement.
No further details about the new contract were provided.
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 Reiner Simanjuntak