Vantage Drilling and TotalEnergies form TEVA, set to buy a drillship for $199M post-Congo contract.

Vantage Drilling and TotalEnergies have formed a joint venture called TEVA Ship Charter. After the Tungsten Explorer drillship finishes its contract in Congo, TEVA will purchase it for $199 million, with TotalEnergies owning 75% and Vantage 25%. Vantage will operate the rig for ten years, with a five-year extension option. This partnership aims to create value through collaboration in offshore drilling.

3 months ago
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