Houston primarily based offshore drilling firm Vantage Drilling has entered right into a Framework Agreement and associated Management and Marketing Agreements with Seadrill Partners beneath which Vantage’s subsidiaries will present working, administration and advertising providers to Seadrill Partners and its subsidiaries in respect of 4 of their deepwater floaters, which embrace the drillships: the West Polaris and the West Capella, and the semisubmersibles: the West Leo and the West Sirius. The U.S. Bankruptcy Court – Southern District of Texas reviewed and authorized the Framework Agreement and associated agreements on March 18, 2021.
John Roche, Seadrill Partner’s Chief Executive Officer, commented, “The floaters to be managed, operated and marketed by Vantage have performed an essential function in our fleet, and we’re happy to entrust these property to Vantage. We imagine Vantage’s sturdy monitor file and popularity for secure and environment friendly operations will place our property to safe new contracts and maximize worth for our clients and stakeholders.”
Ihab Toma, Vantage’s Chief Executive Officer, commented, “We are very happy to have reached an settlement with Seadrill Partners to handle, function and market sure of their deepwater floaters. This settlement is a testomony to the arrogance that homeowners and clients place in Vantage. We are excited to have the chance to collaborate with Seadrill Partners and intend to leverage our administration platform to deliver first-class operational efficiency and effectivity to our consumer’s fleet. We take very critically the belief Seadrill Partners have positioned in Vantage and we stay up for placing their rigs to work in probably the most secure and environment friendly method, whereas leveraging the stellar monitor file of those deepwater floaters.”
Vantage Drilling International, a Cayman Islands exempted firm, is an offshore drilling contractor, with a fleet of two ultra-deepwater drillships, and 5 premium jackup drilling rigs. Vantage’s major enterprise is to contract drilling items, associated gear and work crews totally on a dayrate foundation to drill oil and pure gasoline wells globally for main, nationwide and unbiased oil and gasoline firms. Vantage additionally markets, operates and gives administration providers in respect of, drilling items owned by others.
(Source: Vantage Drilling – Image: West Capella drillship in Santacruz de Tenerife)
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