Vantage drilling international ltd. announces creation of totalenergies and vantage joint venture entity

Dubai, jan. 02, 2025 (globe newswire) -- vantage drilling international ltd. (the “company”) announces the creation of the jv entity with totalenergies, teva ship charter llc (“teva”) in line with the mou terms described in previous announcements. subsequent to the completion of the current tungsten explorer contract in congo, teva will acquire the tungsten explorer from vantage subject to customary sale and purchase conditions precedent. totalenergies, vantage and teva have executed all definitive agreements in support of the rig acquisition and joint venture management including a sale and purchase agreement by which teva will acquire the rig and a management agreement pursuant to which vantage will operate the tungsten explorer for a ten year term with the option to extend for an additional five years.
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