Vantage Drilling International, announced, that its ultra-deepwater drillship, the Platinum Explorer, has received a letter of award for a three year contract from ONGC. The Platinum Explorer is planned to mobilize to India in the fourth quarter of 2017. Expected revenues over the three-year contract term, exclusive of service tax, are approximately $118 million.
Ihab Toma, the Company’s Chief Executive Officer, commented, “We are delighted to put this drillship back to work in this challenging environment and we look forward to safe and successful operations for our customer, ONGC. Vantage and the Platinum Explorer have previously worked for ONGC for five years and we look forward to providing the same professional service to this client.”
Vantage Drilling International, a Cayman Islands exempted company, is an offshore drilling contractor, with a fleet of three ultra-deepwater drillships, four premium jackup drilling rigs and one standard jack-up drilling rig. The ultra-deepwaater drillship is currently ready stacked in Malaysia. (Source: Vantage Drilling)