Platinum Explorer Spins Bit Offshore India

Vantage announced that the ultra-deepwater drillship, Platinum Explorer, commenced operations for Oil & Natural Gas Corporation Limited (ONGC) in India Dec. 30. The Platinum Explorer is contracted for five years with corresponding estimated revenues of approximately $1.1 billion.

Paul Bragg, Chairman and Chief Executive Officer, commented, "I congratulate our team and partners for outstanding performance, exceeding expectations, getting the Platinum Explorer on contract timely. We greatly appreciate the support of ONGC in preparation for and acceptance of Platinum Explorer. This is the culmination of nearly three years of coordinated efforts between our operations, engineering and project teams, along with the shipyard -- DSME, our venders and ONGC. We look forward to the next five years of safe operations and drilling excellence."

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