Singapore's KS Energy in $200 mln rig charter deal-source

SINGAPORE, March 27 (Reuters) - Singapore oil services firm KS Energy (KSTL.SI: Quote, Profile, Research, Stock Buzz) has rented out an offshore oil-drilling rig to an oil exploration firm on a time charter worth over $200 million, a company source told Reuters on Thursday.

"We have signed a contract for the jackup rig Medstar. Its a time-charter deal and will amount to a total of above $200 million," said the source with direct knowledge of the deal.

The source did not name the exploration firm that has rented the rig and did not give the period of the charter, saying it would soon announce the details.

The company declined to comment.

KS Energy suspended trade in its shares on Wednesday evening pending an announcement.

The charter deal would be the first for KS Energy, which embarked into the offshore oil services business in May last year when it acquired Norway-based Atlantic Oilfield Services.

KS Energy now has a combined fleet of about 20 onshore and offshore rigs, with one jackup rig under construction at the MIS Shipyard in the Middle East. (Reporting by Ovais Subhani; Editing by Michael Urquhart)