KS preparing to take jack-up delivery

on
March 23:


Ready for delivery: KS Energy chief executive Kris Wiluan

Singapore-listed KS Energy is preparing to receive delivery of its latest jack-up rig from Shanghai Zhenhai Heavy Industries (ZPMC).
KS said the jack-up KS Java Star-2 was currently being commissioned and was expected to be ready for delivery from ZPMC’s Nantong yard by the end of the month.
The F&G Super M2 class design rig is being built at a cost of $165.5 million and will be capable of operating in up to 300-feet of water.
ZPMC will deliver the rig to Vietnam where it is already contracted under a one-year charter with an option for an additional year.
KS revealed last month it had landed a contract valued at roughly $58 million, excluding the potential one-year extension period, from a joint venture between state-run PetroVietnam and Russia's JSC Zarubezhneft.
Source: http://www.upstreamonline.com/live/article1356004.ece?

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