Vantage Drilling International Completes Sale of Tungsten Explorer

Vantage Drilling International has successfully completed the sale of the Tungsten Explorer to TEVA Ship Charter LLC, a joint venture entity owned 25% by the company and 75% by TotalEnergies. This transaction aligns with previous announcements, and Vantage will retain management of the Tungsten Explorer for a period of ten years, with the option to extend for an additional five years.

CEO of Vantage Drilling, Ihab Toma, expressed his satisfaction with the sale, stating, “We are delighted to have completed the sale of the Tungsten Explorer. We now look forward to a productive and mutually beneficial relationship for the joint venture with our esteemed client and partner TotalEnergies.”

This strategic move reflects Vantage Drilling’s commitment to optimizing its fleet and strengthening partnerships within the industry. The sale of the Tungsten Explorer marks a significant milestone for the company and sets the stage for future collaborations and growth opportunities.

With Vantage Drilling’s expertise in offshore drilling operations and TotalEnergies’ global presence and resources, the joint venture is poised to deliver value and excellence in the maritime sector. The synergy between the two entities promises enhanced efficiency and innovation in the management of the Tungsten Explorer and other assets under their purview.

As the partnership between Vantage Drilling and TotalEnergies evolves, both companies are poised to leverage their combined strengths to drive sustainable growth and success in the competitive energy market. The sale of the Tungsten Explorer signifies a new chapter in their collaboration and highlights the potential for future achievements in the maritime industry.