Update: KS Drilling scores drilling gig in Egypt for KS Medstar-1 rig

KS Medstar-1 / Image source: KS Drilling
KS Medstar-1 / Image source: KS Drilling

The article has been updated with an estimated dayrate value, as provided by Bassoe Offshore


Singapore-listed drilling company KS Drilling has managed to find work for its KS Medstar-1 offshore drilling rig in Egypt.

The jack-up drilling rig, built in 1980 and upgraded in 2011, will begin work in the third quarter of 2019, an will earn $2.5 million in total. KS Drilling did not say who the client was.

Medstar-1 details / Generated by Bassoe Analytics

According to data on Bassoe Analytics, the rig last worked in the Red Sea in Egypt for North Sinai Petroleum Company (NOSPCO), between May and August 2018, for a dayrate of $45,000.

Bassoe shows the estimated dayrate for the new contract is around $34.000.

Data by Bassoe shows the rig is currently warm-stacked in Egypt. Apart from KS Medstar-1, KS drilling owns two other jack-ups, KS Java Star and KS Java Star 2, both of which are currently on contracts in Indonesia and Vietnam, respectively.

Worth reminding, KS Drilling has this month canceled newbuild orders for two jack-up rigs being built by Chinese shipyards ZPMC and COSCO, respectively.

 


Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.

Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns. 

If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options.


 

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply