The new JV is said to provide drilling services and heavy capital equipment for offshore oil and gas exploration market in Mexico.
Jointly, the JV will be owned by construction and infrastructure operation firm ICA and KS Energy’s 80% owned unit KS Drilling.
According to KS Energy, the JV will initially need two new jack-up drilling rigs worth $240m each.
KS Energy provides energy services to the global oil and gas, marine and petrochemical industries.
