Vantage Drilling International Ltd. (VDI), a leading offshore drilling contractor, has secured a significant contract worth approximately $80M for the drilling unit Platinum Explorer. The contract, which has a validity period of 90 days, is conditional on several factors and will require the mobilization of the drilling unit, along with its equipment and crew. The contract terms and conditions are as follows:

• The client and VDId must agree on the terms and conditions of the contract.
• The client must obtain all necessary internal and external approvals.

These conditions must be met in order for the contract to be executed. is a Bermuda-based exempted company that provides offshore drilling services to major, national, and independent oil and gas companies globally. The company’s primary business involves contracting drilling units, equipment, and work crews on a day-rate basis to drill oil and natural gas wells. In addition to its core operations, VDI also markets, operates, and provides management services for drilling units owned by others. The Platinum Explorer is a key asset in VDI’s fleet, and this contract represents a significant opportunity for the company to expand its operations and increase its revenue. With this contract, VDId aims to drill approximately 260 days, including mobilization time, paid-for contract preparation time, and demobilization time. The contract value of $80M is comprised of two parts: a material portion of the contract value, which covers mobilization and paid-for contract preparation, will be reimbursed based on the cost incurred and a limited margin amount. The remaining portion of the contract value will be paid to VDI as a day rate for the contracted period. The contract award is subject to several conditions, including the mutual agreement of the terms and conditions, receipt of all necessary internal and external approvals, and the execution of the contract for services or the expiration of the validity period. If any of these conditions are not met, the contract may not be executed. This contract award is considered inside information, as per the EU Market Abuse Regulation, and is subject to disclosure requirements under the Norwegian Securities Trading Act. The information was submitted for publication by Alaric Harrell, Chief Accounting Officer of VDId, on April 23, 2025.

• Contact information: Rafael Blattner, Chief Financial Officer, +971 4 449 34 28, rafael.blattner@vdil.com

The Platinum Explorer will be mobilized to the assigned drilling site, along with its equipment and crew, to begin drilling operations. The contract terms and conditions are subject to change, and the company will provide updates as necessary. The Platinum Explorer is a state-of-the-art drilling unit that is capable of drilling a wide range of wells, including those in the deepwater and offshore sectors. Its advanced technology and equipment enable it to operate efficiently and effectively in various drilling environments. In addition to the contract terms and conditions, VDId has also taken steps to ensure that the Platinum Explorer is properly prepared for the campaign. The company has conducted thorough maintenance and inspection of the drilling unit, and its equipment and crew have been trained to meet the highest standards of safety and quality. The successful completion of this contract will be a significant milestone for VDId, as it demonstrates the company’s ability to deliver high-quality drilling services to its clients. With this contract, VDId aims to expand its operations and increase its revenue, and the company is well-positioned to meet the growing demand for offshore drilling services in the oil and gas industry.

“The Platinum Explorer is a key asset in our fleet, and this contract represents a significant opportunity for us to expand our operations and increase our revenue. We are confident that our team will deliver high-quality drilling services to our client, and we look forward to a successful campaign.” – Alaric Harrell, Chief Accounting Officer

The contract award is subject to several conditions, including the mutual agreement of the terms and conditions, receipt of all necessary internal and external approvals, and the execution of the contract for services or the expiration of the validity period.
The Platinum Explorer is a highly advanced drilling unit that is capable of drilling a wide range of wells, including those in the deepwater and offshore sectors.

1. Key benefits of the Platinum Explorer include its advanced drilling technology, highly trained crew, and state-of-the-art equipment.
2. The Platinum Explorer has been designed to operate in a variety of drilling environments, including deepwater and offshore sectors.
3. The drilling unit’s advanced technology and equipment enable it to drill wells quickly and efficiently, reducing the time and cost associated with drilling operations.

VDI’s experience and expertise in offshore drilling make it an ideal partner for oil and gas companies looking to expand their operations in this sector. With the successful completion of this contract, VDId aims to further establish itself as a leading provider of offshore drilling services. VDI’s operations are guided by a set of core values that prioritize safety, quality, and customer satisfaction. The company’s commitment to these values ensures that its drilling operations are carried out with the highest level of professionalism and expertise. In conclusion, VDId’s recent contract award represents a significant milestone for the company, demonstrating its ability to deliver high-quality drilling services to its clients.