Offshore drilling contractor Vantage Drilling has received a conditional letter of award from an undisclosed client for the 2010-built drillship Platinum Explorer.
The company stated that the conditional letter of award has a 90-day validity period. The contract value is around $80m with an anticipated 260 days required to complete the campaign, inclusive of mobilisation time, paid-for contract preparation time, and demobilisation time.
A material portion of the contract value, covering mobilisation and paid-for contract preparation, is reimbursed based on the cost incurred and a limited margin amount.
The award of the contract is subject to the terms and conditions of the contract agreed between the client and the company, and the client receiving all necessary approvals. The CLOA will remain in effect until either the execution of the contract or the expiration of the validity period.
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Type: Ultra-deepwater drillship, dynamically positioned (6th generation)
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IMO Number: 9463516
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MMSI: 311021200
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Flag: Bahamas
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Water Depth Capability: Up to 10,000 feet (3,048 meters)
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Drilling Depth Capability: Up to 40,000 feet (12,192 meters) total vertical depth
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Hull Dimensions: Approximately 781 feet long by 137 feet wide (same design as sister ship Tungsten Explorer)
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Variable Deck Load: 20,000 tons (based on similar DSME design for Tungsten Explorer)
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Thrusters: Equipped with thrusters for dynamic positioning (noted for replacement operations in 2021)
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Operational Features: Designed for complex deepwater drilling operations, with high-specification equipment suitable for major oil and gas projects, as demonstrated by long-term contracts with ONGC in India.