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KS Energy jack-up contract cancelled prior to commencement

Singapore: KS Energy has announced that a contract signed in March via Indonesian subsidiary, PT Atlantic Oilfield Services together with its joint operation partner Pertamina Drilling Services Indonesia, has been cancelled.

The $7.2m contract for jack-up rig KS Java Star was cancelled after the client requested a delay the contract, and both parties were unable to agree on a new start date.

KS Java Star has been deployed in Indonesia’s West Madura oilfield, located off the coast of Java.

No details were given on whether KS Energy would seek compensation for the cancellation.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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