By John Lee.
Singapore-listed KS Energy (KSE) signed a contract recently to supply its KS Discoverer 4 land rig (pictured) to the Taq Taq Operating Company (TTOPCO) in Kurdistan.
The rig will be contracted for one year or until the completion of one exploration well and two development wells, whichever is later. TTOPCO has the option to extend the contract for a further period of one year.
The contract, over the minimum period of one year, is worth $16.8 million.
The Taq Taq field is owned by Genel Energy and Addax Petroleum.
(Sources: Rigzone, KS Energy)