Offshore drilling contractor Vantage Drilling International has received a two-year contract from India’s Oil and Natural Gas Company (ONGC) for its ultra-deepwater drillship, Platinum Explorer.

The new contract is planned to commence upon completion of the drillship’s existing three-year contract with ONGC, scheduled in the second quarter of this year.

Vantage expects to yield revenue of around $109m, excluding service tax, from the new contract.

Vantage Drilling International CEO Ihab Toma said: “We are very pleased to receive this award from ONGC. We have been working successfully with the Platinum Explorer for ONGC since the rig was built in 2010 and have built a first-class operation in India with them.”

In 2017, ONGC awarded a three-year contract to Vantage Drilling to mobilise the Platinum Explorer deepwater drillship.

In the subsequent year, ONGC said it commenced the $5.07bn KG-DWN-98/2 project in the Krishna Godavari basin off the east coast of India by spudding the first of the planned 34 subsea wells.

The well was drilled using the Platinum Explorer ultra-deepwater drillship.

The 34 wells planned to be drilled under the KG-DWN-98/2 project include 15 oil producing wells, eight gas producing wells and 11 water injecting wells.

In addition, the KG DWN 98/2 project will see 425km of pipeline and 150km of control umbilical laid out in water depths of 300m to 1400m.