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KS Energy unit wins $6.8 mil drilling rig contract

Jude Chan Published on Thu, Mar 16, 2017 / 5:47 PM GMT+8

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SINGAPORE (March 16): KS Energy on Thursday announced that subsidiary PT Petro Papua Energi has secured a US$4.8 million ($6.8 million) contract for the KS Discover 7 land drilling rig.

PT Petro Papua Energi is a subsidiary of KS Drilling, which in turn is an 80.09%-owned subsidiary of KS Energy.

The work in Indonesia is expected to commence in second quarter 2017, and expected to last approximately nine months.

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