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Vantage Drilling International, a Bermuda-exempted offshore drilling contractor, has landed a long-term assignment for its 16-year-old drillship off the coast of India with the country’s state-owned energy giant Oil and Natural Gas Corporation (ONGC).
Vantage Drilling has received a binding notification of award (NOA) from ONGC for the 2010-built Platinum Explorer drillship, following the conclusion of the oil and gas player’s deepwater drillship tender for a three-year firm, plus one-year optional campaign in India.
With an estimated total contract value of $261 million, exclusive of managed pressure drilling (MPD) services, the assignment will begin no later than 180 days after the issuance of the NOA in line with the requirements of the tender.
The Platinum Explorer sixth-generation ultra-deepwater drillship, which is capable of working in water depths of up to 10,000 feet (3,048 meters), has a maximum drilling depth of 40,000 feet (12,192 meters).
The offshore drilling rig market is seeing further consolidation, as illustrated by Transocean’s acquisition of Valaris, which will establish a combined company with an offshore fleet of 73 rigs.
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