Vantage Drilling acquires jackup from Hercules Offshore

Vantage Drilling International has acquired 1979-built jackup rig Hercules 260 from Hercules Offshore for an undisclosed amount.

Vantage has renamed the rig Vantage 260, and as part of the deal acquired a multi-year drilling contract with ENI Congo.

Vantage is reactivating its jackup rig Sapphire Driller, currently warm-stacked offshore the Republic of Congo, and later this year will substitute it for the Vantage 260.

“We are delighted to have completed this transaction and are happy to welcome the 260 team to Vantage. We look forward to continuing the excellent operations for ENI Congo,” said Ihab Toma, Vantage’s chief executive officer.

Hercules Offshore filed for bankruptcy in June 2016, and is in the process of selling off its entire fleet.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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