Vantage Drilling Agrees to Manage Seadrill Partners' Floaters


February 12, 2021

A Seadrill Partners Drillship - Credit: Seadrill Partners

A Seadrill Partners Drillship - Credit: Seadrill Partners

Offshore drilling contractor Vantage Drilling's subsidiary Vantage Holdings International has signed an agreement to manage and market some of Seadrill Partners' offshore drilling rigs.

Under the deal, signed on February 9, VHI will provide marketing and operations management services "in respect of certain of the Seadrill Entities’ deepwater floaters."

Vantage did not say which rigs it would manage nor on what terms.

These agreements are subject to the approval of the U.S. Bankruptcy Court for the Southern District of Texas, Vantage Drilling said in a statement.

To remind, Seadrill Partners, an affiliate of offshore drilling firm Seadrill, in December 2020 filed for Chapter 11 bankruptcy protection in a move to restructure its debt.

The company's fleet comprises four drillships, four semi-submersible drilling rigs, and three tender rigs.

Seadrill Partners last week signed an agreement with Energy Drilling Management Pte Ltd (EDMPL) to maintain, market, and operate the company's tender rigs Seadrill-T15, Seadrill-T16, and West Vencedor.

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