Norway-based Odfjell Drilling has secured an order worth $40m for its Deepsea Metro I to work with Vietgazprom in Vietnam.
According to the contract terms, Odfjell Drilling will operate in blocks 130 and 131, offshore Vietnam.
The contract will have a duration of around 20 weeks, and the drill ship will start work mid-way through 2015’s third quarter.
Odfjell Drilling said the contract also will have options for two well-testing periods each of which have an estimated duration of 90 days.
Odfjell Drilling CEO Simen Lieungh said: "We are pleased to secure new employment for Deepsea Metro I in the current challenging market.
"Since it was delivered from yard in 2011 the drillship has provided safe, reliable and the highest quality of drilling performance for our previous clients."
According to Odfjell, since December 2014 the rig has been out of service, and it is positioned in South Africa at present.
The ultra deepwater (UDW) drillship, Deepsea Metro I, managed by Odfjell Drilling, will immediately start mobilising for its new contract in Vietnam.
The rig is owned by Golden Close Maritime, a company owned by Deep Sea Metro, a joint-venture between Metro Exploration and Odfjell Drilling with interests of 60% and 40% respectively.
With over 40 years experience of international drilling, Odfjell Drilling has performed operations all over the world, including several procedures in the North Sea.