KS Energy Secures 6-Month Extension on Maersk's Rig Management Contract

KS Energy Services Limited has secured the first of two six-months extension with effect from June 29, 2008, to its rig management contract with Consafe Offshore AB, a wholly-owned subsidiary of Prosafe SE for the management of the Safe Esbjerg, a 140-bed accommodation jackup rig currently operating in the North Sea for Maersk Olie og Gas AS, Denmark. Its wholly owned subsidiary, Atlantic Marine Services Denmark BV (AMS), which has been managing this accommodation rig since June 2005, will now be continuing with its rig management services until the end of 2008 with a possible six months extension thereafter. KS Energy owns AMS through Atlantic Oilfield Services Ltd (AOS).

AOS, a wholly-owned subsidiary, which started the rig management to service Maersk, is responsible for all management functions of the Accommodation Rig including provision of qualified personnel, maintenance, spare parts, class requirements and technical services. The extension of this rig management contract, which will generate revenues of Euro 2.75 million (approximately $4.25 million), will contribute positively to the financial performance of KS Energy in FY2008.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Expertise: Electrical Technician
Location: Odessa, TX
Mud Logger - South Texas
Expertise: Military|Mud Logging
Location: Corpus Christi, TX
Dispatcher - Midland, Texas
Expertise: Dispatcher
Location: Midland, TX
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours