Vantage wraps up sale of deepwater drillship to TotalEnergies JV

August 11, 2025, by Dragana Nikše

Offshore drilling contractor Vantage Drilling International has completed the sale of a vessel from its fleet to TEVA Ship Charter, its joint venture (JV) with France’s energy giant TotalEnergies.

Tungsten Explorer; Source: Vantage Drilling

Thanks to the deal, the Tungsten Explorer drillship will now be owned by TEVA, a JV owned 25% by Vantage and 75% by TotalEnergies. The JV was formed in early 2025 following last year’s announcement.

Ihab Toma, CEO of Vantage Drilling, commented: “We are delighted to have completed the sale of the Tungsten Explorer. We now look forward to a productive and mutually beneficial relationship for the joint venture with our esteemed client and partner TotalEnergies.”

The 2013-built Tungsten Explorer is a sixth-generation ultra-deepwater drillship of DSME 12,000 design. As previously disclosed, Vantage will continue to manage the Tungsten Explorer for 10 years with the option to extend for an additional five years.

Per Vantage Drilling’s fleet status report, the rig is scheduled to move to a shipyard for recertification and upgrade following the sale.

Another ultra-deepwater drillship from Vantage Drilling’s fleet, Platinum Explorer, got its conditional letter of award (CLOA) with an undisclosed client extended by 30 days last month.

Meanwhile, TotalEnergies and its partners in a liquefied natural gas (LNG) project offshore Australia, Santos, KOGAS, and Petronas, saw the resolution of a legal dispute with Fluor Australia regarding the Gladstone LNG project.