The sale price represents 100% of the equity and all subordinate loans the Company has invested into KOV
since the acquisition of the Endeavour in late 2012 and its subsequent refurbishment.
It is estimated that KOV
will create some 500 jobs and possibly avert the shortage of gas coming in 2012.
The sale price represents approximately 100% of the equity and loans the Company has invested into KOV
since the acquisition of the Endeavour in late 2011 and its subsequent refurbishment.
With projects identified that should keep the rig working for the next five years, this represents a major step forward for KOV
As previously advised, KOV
executed a Repair Contract with Keppel FELS Shipyard in Singapore for the repair and modification of the jack-up rig, Endeavour.
anticipates over the over the next 5 years both the OCBC and AIDEA facilities will be fully repaid by revenues received under the Bare Boat Charter agreement.
As a result of this access delay, Transocean and KOV
have mutually agreed to extend the completion date until 11 November 2011 (US time).
and its advisors have already completed two inspections of the Rig whilst cold stacked and consider the Rig to be in good condition.
AIDEA's Preferred Ownership interest will be cancelled as it is repurchased so that on conclusion of the repurchase program KOV
will be the 100% owner of the jack-up rig;
5 million to KOV
to supplement AIDEA's ownership interest and the anticipated Senior Debt facility.
This is the 7th batch of KOVs
to arrive to Jordan; volunteers attend an 8-week intensive training course to enable them to adapt with Jordanian society
This is the seventh batch of KOVs
arrive to the Kingdom, during which volunteers will attend 8-week intensive training course to enable them to early adapt with Jordanian society.