Offshore drilling contractor Vantage Drilling has been informed that a contract for the 2010-built drillship Platinum Explorer was terminated.
The termination is due to changes in economic sanctions applicable to the campaign, rendering the contract execution unlawful and therefore subject to termination.
The company was initially given a conditional letter of award on April 23. The undisclosed client later extended it on July 22.
Vantage Drilling said at the time that the award of the contract was subject to the terms and conditions agreed upon between the client and the company, and the client obtaining all necessary approvals.
The contract, worth approximately $80m, was finally firmed up in September. It was supposed to begin in the first quarter of 2026 and to have an anticipated duration of 260 days, inclusive of mobilisation time, paid-for contract preparation time, and demobilisation time.
