KS Energy bags $9.9m jack-up drilling rig contract
Work will begin this month.
Mainboard-listed KS Energy has clinched a $9.9m (US$7.2m) contract for the construction of a jack-up drilling rig.
The contract was awarded to its subsidiary t PT Atlantic Oilfield Service together with its joint operation partner, Pertamina Drilling Services Indonesia.
Work is expected to begin in March 2015. The new 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 2015.