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Name of Announcer * | KS ENERGY LIMITED |
Company Registration No. | 198300104G |
Announcement submitted on behalf of | KS ENERGY LIMITED |
Announcement is submitted with respect to * | KS ENERGY LIMITED |
Announcement is submitted by * | BUSARAKHAM KOHSIKAPORN |
Designation * | COMPANY SECRETARY |
Date & Time of Broadcast | 07-Oct-2013 07:37:26 |
Announcement No. | 00001 |
>> Announcement Details
The details of the announcement start here ...
Announcement Title * NEWS RELEASE - KS Energy extends reach into Mexico with a proposed ICA joint venture
Description Please see attached.
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https://wwwl.sgxnet.sgx.com/sgxnet/LCAnncSubmission.nsf/vwprint/864045F583F84...
l0/7/20l3
NEWS RELEASE KS Energy extends reach into Mexico with a proposed lCA joint venture
• Proposed joint venture with Mexico's renowned lCA
• Joint venture company to tap into Mexico's expanding oil and gas industry
Under the terms of the MOA, a limited liability company will be established to be jointly owned by ICA and KS Drilling Pte Ltd ("KS Drilling"L an 80% owned subsidiary of KS Energy. The jointly controlled entity ("JCE") will previde drilling services and heavy capitai equipment for the offshore oil and gas exploration market in Mexico. By 2014, the JCE is expected to initially require two new high specification jack-up drilling rigs valued at approximately US$240 million each.
"This is only the start for our joint venture entity and a new milestone for KS Drilling/' said Mr Kris Wiluan, Executive Chairman and CEO of KS Energy, "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."
ICA is an established conglomerate engaged in the construction, infrastructure, concession, and homebuilding markets in Mexico and Latin America. Founded in 1947 by Bernardo Quintana, ICA (Spanish for 'Civil Engineering Associated') is now Mexico's leading construction and infrastructure operation company. ICA has been listed on the Mexican (BMV: ICA) and New York (NYE: ICA) stock exchanges since 1992.
19 jurong Port Road Singapore 619093 Tel: +65 6577 4600 Fax: +65 6577 461 8
E-mail: mail@ksenergy.com.sg Website: www.ksenergy.com.sg Company Registralion No: 1 98300104G
Mr Alonso Quintana, Chief Executive Officer of ICA said "this partnership reinforces our vision of providing high quality infrastructure solutions to our clients. KS Drilling's experience is key in this high growth market."
This foot print into Mexico closely follows KS Energy's recent announcement of its proposed joint venture with lndonesia's Pertamina Drilling to expand its drilling activities in Indonesia (please referto KS Energy's Announcement dated
26 August 2013).
ABOUT KS ENERGY LIMITED
A Globally Accredited and lntegrated Energy Services Provider
KS Energy Limited ( "KS Energy") is one of the leading integrated oilfield supply and services providers to the global oil & gas, marine and petrochemical industries. The shares of KS Energy are traded on the Main Board of the Singapore Exchange Securities Trading Limited.
The core activities of KS Energy are in the distribution of parts and components, capitai equipment charter and provision of drilling and rig management services. lts distribution arm - KS Distribution Pte Ltd represents more than 300 globally-accredited brands and distributes more than 60,000 line items.
Through its subsidiary KS Drilling Pte Ltd, an internationally accredited drilling and rig management company, KS Energy is now a proven operator providing capitai equipment, rig management and drilling services directly to major oil companies for their onshore and offshore exploration and production needs.
KS Energy's geographic reach spans South East Asia, China, lndo-China, the Middle East, Africa, the North Sea, the European Union and the USA. The KS Energy has a workforce of more than 1,200 employees across the world.
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Far enquiry please contact: Tan Peck Hwa
Te/: + 65 96354996
Email : tphcomms@sinqnet.com.sq
19 jurong Port Road Singapore 619093 Tel: +65 6577 4600 Fax: +65 6577 461 8
E-mail : rnail@ksene rgy.corn.sg Website: www.ksenergy.corn.sg Cornpany Regis tration No: 198300104G
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