Vantage Drilling announced that its ultra-deepwater drillship, the Platinum Explorer, has received a letter of award for a three-year contract from Oil and Natural Gas Company (ONGC). The Platinum Explorer is planned to mobilize to India in Q4 2017. Expected revenues over the three-year contract term, exclusive of service tax, are approximately $118 million.
Ihab Toma, Chief Executive Officer for Vantage Drilling, 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.”