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Vantage Drilling signs 260-day contract for the Platinum Explorer

Vantage Drilling has finalised a major commercial agreement for the deployment of the Platinum Explorer, with a 260-day offshore mission starting in Q1 2026.

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Vantage Drilling International Ltd. announced it has signed a contract for the use of the Platinum Explorer drillship for a campaign of approximately 260 days, including mobilisation and demobilisation periods. Operations are scheduled to begin in the first quarter of 2026, further securing the company’s commercial activity for the coming year. The contract follows a conditional letter of award issued in April 2025 and extended in July of the same year.

The Platinum Explorer is an ultra-deepwater drillship designed for technically intensive offshore operations. While the client’s identity has not been disclosed, the duration and scope of the contract suggest a strategic campaign in a high-potential offshore zone. The vessel’s engagement until the end of 2026 limits its availability for other international tenders.

A strategic committee to support long-term goals

In parallel, Vantage Drilling announced the formation of a strategic review committee to support the development of its roadmap. The committee is composed of Jørn Madsen, Scott McReaken, David Warwick and Ihab Toma, all current board members, and will contribute to defining the company’s medium-term growth priorities. No specific details have been shared regarding any asset reorganisation or potential acquisitions.

This type of initiative is common in the offshore drilling industry, where investment cycles often extend over several years. The creation of this committee comes as several operators are strengthening their presence in expanding markets, notably in West Africa, the Middle East and the Asia-Pacific region.

Regulatory compliance and financial disclosure

Some information disclosed in this announcement is classified as inside information under the European Union Market Abuse Regulation. In accordance with Section 5-12 of the Norwegian Securities Trading Act, the announcement was officially submitted by Alaric Harrell, the company’s Chief Accounting Officer.

The company continues to position itself as an operational player in international offshore drilling markets, with a focused but specialised fleet. The Platinum Explorer contract strengthens Vantage Drilling’s order book while maintaining revenue visibility in the short to medium term.

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