KS Java Star 2 to Head to Vietnam for Work Upon Delivery in late March

KS Energy Limited, a Singapore-listed integrated oilfield supply and services providers, reported Friday that the newbuild jackup KS Java Star 2 (300' ILC) is currently being commissioned at a shipyard in China and will be ready for delivery end of March 2014.

The $165.5 million jackup, under construction at China's Shanghai Zhenhua Heavy Industry Co., Ltd's yard, will be deployed to drill in Vietnam on a one plus one year contract. The F&G Super M2 class design jackup, which can work in water depths of up to 300 feet, has a cantilever envelope of 57.5 feet by 30 feet and can accommodate 110 people.

"With the close cooperation from the KS Drilling team, ZPMC has been able to complete the rig according to its high specifications and on time. This rig will be delivered to Vietnam shortly to work on a contract there. Our success today paves the way for us to work together on many more future projects in the region," Kris Wiluan, chairman and CEO of KS Energy Limited said in a press release.

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