Vantage Drilling on one-year drilling program in Indonesia

By Nellawati

Vantage Drilling, together with our customer for the Topaz Driller in Malaysia, has agreed to modify the terms of their contract in order for the Topaz Driller to perform a one-year drilling program in Indonesia.

The original contract was for two wells in Malaysia plus a one well option, but under the modified terms, Vantage and the customer's Indonesian affiliate have entered into a new one-year contract for a drilling program in Indonesia at an increased rate.

Additionally, the Indonesian affiliate will be granted three options for six months each. Upon completion of the Indonesian contract, the customer is anticipated to generate revenue of approximately $57 million.

Vantage Drilling is an international offshore drilling contractor which operates a fleet of modern, high specification drilling rigs on a worldwide basis. Their fleet currently consists of four Ultra Deepwater Drillships and four BMC 375 Jackups.

Editing by Dadan Wijaksana