Prepare for Platinum Explorer

Vol 14, PW 3 (29 Jul 10) News in Brief
     

Houston-based Vantage Energy sent a team to India this month for preparatory work as it gets set to deploy new build ultra deepwater drillship Platinum Explorer on an ONGC contract beginning later this year.

PETROWATCH learns rig manager Peter Burnett, asset manager Gerald Scoggins and vice-president Dave Weatherly travelled on July 8 to Kakinada, where the rig will have her shore base. They inspected the location and also met vendors and equipment and service providers on board the rig.

Platinum Explorer can operate in 12,000-feet water depths and drill to 40,000 feet below the seabed. She is being constructed at the Daewoo shipyard in South Korea and is scheduled for delivery this November.

After sea trials are concluded, she will begin her ONGC assignment by December 31 at the latest. This contract will last five years and Explorer is likely to work in eastern offshore deepwaters.

ONGC hired the rig in March 2009 at an Effective Day Rate of $642,285.