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TotalEnergies & Vantage Drilling International Embark on a Groundbreaking Venture with the $199 Million Acquisition of the Tungsten Explorer Drillship

TotalEnergies & Vantage Drilling International Embark on a Groundbreaking Venture with the $199 Million Acquisition of the Tungsten Explorer Drillship
6 February, 2024InternationalMaritimeOffshore Drilling NewsUpstream

➡ Joint Venture Highlights:

✔TotalEnergies invests $199 million for a 75% stake in the joint venture, underscoring its commitment to innovation in energy exploration.

✔Vantage Drilling retains a 25% interest, bringing its deep offshore drilling expertise to the forefront of this collaboration.

✔Vantage Drilling will operate the Tungsten Explorer for the next 10 years, demonstrating its operational excellence.

A marvel of modern engineering, the Tungsten Explorer, built in 2013, is designed for versatile offshore drilling in diverse conditions. Operating in Namibia with TotalEnergies’ eco-friendly Excellium additives sets a new standard in efficient and sustainable drilling practices.

This joint venture signifies a strategic shift for both companies, blending TotalEnergies’ vision for cost-effective, sustainable offshore drilling with Vantage’s operational expertise and strong management.

This partnership symbolized by the Tungsten Explorer, marks a new era in offshore drilling, emphasizing innovation, sustainability, and collaboration in the energy sector.

Source: Vantage Drilling Internacional

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