KS Energy Signs Drilling Contract

June 12, 2019

Image: KS Drilling
Image: KS Drilling

The one-stop energy services provider to the global oil and gas KS Energy announced that a consortium of PT Java Star Rig, a joint venture of KS Drilling, and Universal Energy Resources Inc, has been awarded a contract by Eni East Sepinggan Ltd to charter the sixth generation semi-submersible drilling rig “SSV Catarina” to carry out the work.

The work in Indonesia is expected to begin in 2019, said a press release from the Singapore-based company. The expected value of the contract for the consortium is approximately US$95 million.

The contract is not expected to have any material effect on the earnings per share and net tangible assets per share of the Company for the financial year ending 31 December 2019, said the release.

KS Drilling, an 80%-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.

Categories: Drilling Contract Rig


Current News

Australia Reviewing Equinor Environmental Plan

Australia Reviewing Equinor Environmental Plan

Equinor, SSE Win Contract for Largest Offshore Wind Project

Equinor, SSE Win Contract for Largest Offshore Wind Project

Liberator Pilot Well Plugged and Abandoned

Liberator Pilot Well Plugged and Abandoned

Petrofac Sells Mexico Assets to Perenco

Petrofac Sells Mexico Assets to Perenco

Petronas Q2 Profit Rises 8%

Petronas Q2 Profit Rises 8%

Allseas Scores Gyda Platform Removal Job

Allseas Scores Gyda Platform Removal Job

Monitoring, and Addressing, Crude Quality in Real-time

Monitoring, and Addressing, Crude Quality in Real-time

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week