India's Oil and Natural Gas Company (ONGC) has agreed to a three-year contract to Vantage Drilling for use of the ultra-deepwater drillship Platinum Explorer offshore India.
The Platinum Explorer is due to mobilize to India in Q4 2017. Expected revenues over the three-year contract term, exclusive of service tax, are approximately US$118 million.
Ihab Toma, the company's CEO, said: "We are delighted to put this drillship back to work in this challenging environment."
Vantage and the Platinum Explorer have previously worked for ONGC for five years.
Last month, ONGC has issued tenders for drilling on its deepwater Block KG-DWN-98/2 on the east coast of India in the Krishna-Godavari Basin.