SINGAPORE (Dec 21): KS Energy announced Friday that a subsidiary of its 80.09%-owned subsidiary, KS Drilling, has been awarded a US$2.6 million ($3.6 million) contract for the KS Java Star 2 jack-up drilling rig.

The work in Vietnam is expected to commence before the end of the year.

KS Energy says the contract is not expected to have any material effect on its earnings per share and net tangible assets per share for the financial year ending Dec 31, 2018.

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