Offshore drilling contractor Vantage Drilling has extended the expiration date for the conditional letter of award (CLOA) for its Platinum Explorer ultra-deepwater drillship, agreed with an undisclosed client.
The 90-day validity period of the CLOA received for the Platinum Explorer on April 23m 2025 has been extended by a further 30 days, Vantage Drilling informed.
All other terms and conditions for the deal valued at approximately $80 million remain unchanged, the company added.
Under the CLOA, Platinum Explorer is to be engaged for the client for an anticipated 260 days required to render the campaign, inclusive of mobilization time, paid-for contract preparation time and demobilization time.
The award of the contract is subject to the terms and conditions of the contract having been mutually agreed between the client and the company, as well as client having received all necessary internal board approvals, and all necessary state, governmental and administrative approvals.
The Platinum Explorer drillship is capable of operating in water depths of up to 10,000 feet (3048 meters), and has a maximum drilling depth of 40,000 feet (12192 meters).
The rig was built in 2010 by South Korea's Daewoo Shipbuilding & Marine Engineering.