KS Energy said on Friday that it had clinched two contracts for drilling operations.
The first contract, valued at US$87.6 million (S$109.17 million) for a contract period of one year with a one-year option, will see its subsidiary, together with partner Pertamina Drilling Services Indonesia, deploying the KS Java Star jack-up drilling rig to Indonesia's West Madura oilfield.
The joint operation, which begins in the fourth quarter of this year, will provide exploration and development drilling and work-over drilling services with one cantilever type jack-up drilling rig capable of operating in water depths of up to 300 ft and drilling to depths of 15,000 ft.
In a separate filing to the SGX, the group said it has, through its subsidiary, KS Drilling Pte Ltd, entered into agreements with PEMEX Exploraci?n Y Producci?n and EPNP, SA de CV, to lease and operate two jack-up rigs.
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