Vantage Drilling Confirms Deal for Platinum Explorer Drillship

Platinum Explorer drillship (Credit: Vantage Drilling)

UAE-based offshore drilling contractor Vantage Drilling has signed the contract for its ultra-deepwater drillship Platinum Explorer.

Operations with an undisclosed client for the approximately 260-day campaign, inclusive of mobilization and demobilization time, are expected to start in the first quarter of 2026.

The signing of the contract follows the Conditional Letter of Award received from the client for the in April and subsequent a 30-day extension to August 29.

The Platinum Explorer drillship is capable of operating in water depths of up to 10,000 feet (3048 meters), and has a maximum drilling depth of 40,000 feet (12192 meters).

The rig was built in 2010 by South Korea's Daewoo Shipbuilding & Marine Engineering.