SINGAPORE (Yosefardi) – KS Drilling Pte Ltd, joint operation of KS Energy and Pertamina Drilling Services Indonesia, has been notified of the exercise of one year option on their current contract for the KS Java Star jack-up drilling rig.
The rig is expected to continue drilling in the West Madura Oilfield offshore Java until January 2015. The total value of this contract extension is approximately US$42 million.
KS Drilling, an 80%-owned subsidiary of KS Energy, is an investment holding company while the main activities of its subsidiaries are in the provision of drilling services, rig management and support services, oilfield equipment ownership and leasing.