KS Drilling scoops jack-up work in Vietnam
- Business & Finance
Singapore’s KS Drilling has been awarded a contract for its jack-up drilling rig KS Java Star 2 for work offshore Vietnam.
KS Drilling is an investment holding company, which is an 80.09%-owned subsidiary of KS Energy. Its main activities are in the provision of onshore and offshore drilling services, rig management and support services, oilfield equipment ownership and leasing.
KS Energy reported on Tuesday, April 4 that the work in Vietnam is expected to start in April 2017.
The expected value of the new jack-up contract is approximately $11.1 million.
The Java Star 2 rig is of a Friede & Goldman Super M2 design. The jack-up was delivered in April 2014 by Shanghai Zhenhua Heavy Industries (ZPMC) in China. It was constructed at a cost of $165.5 million.
Offshore Energy Today Staff