Offshore drilling contractor Vantage Drilling has been informed that it received a binding notification of award from India’s ONGC for the 2010-built drillship Platinum Explorer.
The contract was awarded following the conclusion of a tender for a deepwater drillship, with a three-year firm period plus a one-year optional campaign in India.
According to Vantage Drilling, the estimated total contract value is $261m, exclusive of managed pressure drilling (MPD) services.
The contract shall commence no later than 180 days after the award is issued, in accordance with the tender requirements.
The Platinum Explorer was not expected to be available for this contract, as it had won an $80m contract set to start in the first quarter of 2026. The duration was set at 260 days, inclusive of mobilisation time.
However, the contract was terminated in October 2025 before its start due to changes in the economic sanctions applicable to the campaign, rendering execution unlawful and therefore subject to termination.
