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KS Energy unit wins US$4 mil contract for jack-up drilling rig

Stanislaus Jude Chan Published on Wed, Mar 21, 2018 / 5:22 PM GMT+8

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SINGAPORE (Mar 21): KS Energy announced Wednesday that KS Drilling Egypt Inc. has been awarded a US$4 million ($5.3 million) contract for its KS Medstar 1 jack-up drilling rig.

The work in Eqypt is expected to commence in 2Q18, and will be completed over three months.

KS Energy says the contract is not expected to have any material effect on its earnings per share and net tangible assets per share for the financial year ending Dec 31, 2018.

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