Vantage secures three-year drillship gig in India

NEW DELHI, February 10, 2026 – Vantage Drilling International has received a binding Notification of Award (NOA) from India’s Oil and Natural Gas Corporation (ONGC) for a three-year deepwater drilling campaign offshore India, Vantage announced on Tuesday.

Vantage will deliver the Platinum Explorer drillship for a firm three-year engagement with an optional one-year extension. The contract is valued at USD 261 million, excluding managed pressure drilling services, and is stipulated to start no more than 180 days after the issuance of the NOA.

Platinum Explorer is an ultra-deepwater drillship built by Daewoo Shipbuilding & Marine Engineering, acquired in 2023 by Hanwha Ocean. The vessel is outfitted to operate in water depths of up to 3,048 metres and can reach a maximum drilling depth of 12,192 metres.

Oslo-listed Vantage Drilling is a global offshore drilling contractor that operates a fleet of drillships and jackup rigs. The company’s current engagements include campaigns for Medco Energi, Pertamina and TotalEnergies.

ONGC is India’s largest state-owned oil and gas exploration and production company. Headquartered in New Delhi, it operates in onshore and offshore basins in India and internationally, with participation in several marginal and deepwater fields. The company accounts for approximately 70% of India’s crude oil production and almost 60% of its natural gas.

Photo of Platinum Explorer courtesy of Vantage Drilling

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