KS Energy, ICA tie-up to invest in jack-up rigsKS Energy, ICA tie-up to invest in jack-up rigs

The jointly controlled entity will provide drilling services and heavy capital equipment for the offshore oil and gas exploration market in Mexico. By 2014, the joint venture firm will initially acquire two new high-specification jack-up rigs valued at about $240m each.

“This is only the start for our joint venture entity, and we are confident that there are many more opportunities where, together with ICA, we can offer our drilling capabilities to the oil and gas industry in Mexico,” said Kris Wiluan, executive chairman and ceo of KS Energy.