Vantage Drilling International has struck a deal to provide its Tungsten Explorer to TotalEnergies for at least 225 days.
The firm part of the contract is worth around $79 million, Vantage said. There are also the possibility of three extensions.
The Tungsten Explorer is currently at work in the Mediterranean, where it will drill up to two more wells.
Following this, it will mobilise to West Africa. The driller said this would come in the third quarter of 2022 at the earliest.
“We are delighted that the Tungsten Explorer will go back to work for TotalEnergies,” said Ihab Toma, CEO of Vantage.
“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.”
The Tungsten Explorer is currently drilling the Cronos-1 well, offshore Cyprus for Eni and Total. It had previously been working offshore Egypt.
Vantage has been slimming down its fleet in recent times. In May, it completed the sale of the Emerald Driller, the Sapphire Driller and the Aquamarine Driller to ADES Arabia. The Saudi Arabia-owned company paid $170mn in cash for the three jackups.
Toma, at the time, said the deal strengthened Vantage’s balance sheet and provided “important financial flexibility”.
Vantage now has two ultra-deepwater drillships and two premium jackups.
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