SINGAPORE (Yosefardi) – KS Energy Ltd, controlled by Indonesian tycoon Kris Wiluan, has signed a Memorandum of Agreement (MOA) with one of Mexico’s renowned conglomerate Empresas ICA, S.A.B. de C.V.
Under the terms of the MOA, a limited liability company will be established to be jointly owned by ICA and KS Drilling Pte Ltd (KS Drilling), an 80% owned subsidiary of KS Energy.
The jointly controlled entity (JCE) will provide drilling services and heavy capital equipment for the offshore oil and gas exploration market in Mexico. By 2014, the JCE is expected to initially require two new high specification jack-up drilling rigs valued at approximately US$240 million each.
KS Energy Limited is one of the leading integrated oilfield supply and services providers to the global oil & gas, marine and petrochemical industries.
KS Energy’s geographic reach spans South East Asia, China, Indo-China, the Middle East, Africa, the North Sea, the European Union and the USA. The KS Energy has a workforce of more than 1,200 employees across the world.