Vantage Drilling International Announces Letter of Award for the Platinum Explorer
/EIN News/ HOUSTON, Feb. 03, 2021 (GLOBE NEWSWIRE) Vantage Drilling International (“Vantage” or the “Company”), announced today, that its ultra-deepwater drillship, the
Platinum Explorer, has received a letter of award for a two-year contract from Oil and Natural Gas Company (“ONGC”). The
Platinum Explorer is currently performing under an existing three-year contract with ONGC, which is expected to conclude in the second quarter of 2021. The new contract with ONGC is expected to begin once the existing campaign concludes. Expected revenues over the new two-year contract term, exclusive of service tax, are approximately $109 million.