Vantage Drilling announced today that one of its subsidiaries entered into a drilling services contract with a subsidiary of TotalEnergies in respect of its ultra-deepwater drillship, the Tungsten Explorer. The contract is for a minimum duration of 225 days with three possible options for extension. The drillship is currently operating in the Mediterranean where it will be drilling up to two wells and from there it is planned to mobilize to West Africa in the third quarter of 2022 at the earliest. Total contract value over the firm term of the contract is approximately $79 million.

Ihab Toma, the Company’s Chief Executive Officer, commented,
“We are delighted that the Tungsten Explorer will go back to work for TotalEnergies. This award reflects the confidence our esteemed client has in Vantage’s operational team and Vantage’s track record of delivering safe and reliable operations in West Africa. We look forward to performing up to their expectations, delivering a Perfect Day, Every Day.”