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.
