Offshore drilling contractor Vantage Drilling on February 3 said that one of its ultra-deepwater drillships has received a letter of award for a two-year contract from India’s ONGC. 

The drillship Platinum Explorer is currently performing under an existing three-year contract with ONGC, which is expected to conclude in the second quarter of 2021, Vantage said. The new contract with ONGC is expected to begin once the existing campaign concludes.  

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Expected revenues over the new two-year contract term are approximately $109mn.