USA: Vantage Drilling’s First New Build Drillship Sets Sail for India

Houston-based Vantage Drilling’s first newbuild drillship, Platinum Explorer is due to set sail in November for India after undergoing commissioning at Daewoo Shipbuilding & Marine Engineering’s shipyard in Okpo, South Korea.

Vantage owns 100% interest in Platinum Explorer after buying out Taiwan Maritime Transport’s majority share in July.

The deep-water rig will go on a five-year charter with Oil and Natural Gas Corporation by year-end at a day rate of $590,500 including amortised mobilisation fees.

Platinum Explorer was offically named at a ceremony held at Okpo last week and is the first drillship to be built to a design developed by DSME.

A second drillship being constructed to the same design for Taiwan Maritime Transport is scheduled for delivery in the third quarter of 2011. The rig to be named DragonQuest is being managed by Vantage Drilling and will go on an eight-year charter with Petrobras.

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Source: vantagedrilling, September 6, 2010.