Rig: Palladium Explorer

Name Palladium Explorer
Owner Vantage Drilling Company
Manager Vantage Drilling Company
Rig Type Drillship
Sub Type Ultradeep Water
Jackup Type --
Max Water Depth (ft) 12000
Max Drill Depth (ft) 40000
Dimensions (ft) 763 x 125 x 60
Leg Length (ft) --
Competitive Yes

Current Location

Country South Korea
Region East Asia

Drilling Equipment

Drawworks Type National Oilwell Varco SSGD-1250
Drawworks HP 11200
Mud Pumps Type --
Top Drive Aker Maritime Hydraulics MDDM-1250-AC-2M
Hookload Capacity (lbs) 2500000

Rig Construction Details

Rig Design Bassoe Technology AB
Rig Model BT-UDS
Year Built 2016
Country of Build South Korea
Yard Name Jinhae Shipyard
Group Yard Name STX Offshore & Shipbuilding

Rig Contract Details

Operating Status Cancelled


10 Jan 2014

'Palladium Explorer' drillship construction terminated

Vantage Drilling Company (Vantage) has announced that Sigma Drilling Ltd (Sigma) has terminated the construction of its ‘Palladium Explorer’ drillship project with STX Offshore & Shipbuilding Co Ltd (STX). STX notified Sigma in August 2013 of financial difficulties that the shipyard was having and that it was looking to restructure its operations and finances. In response to STX’s announcement Sigma attempted to negotiate the movement of the construction of the drillship to a new shipyard however, due to a lack of progress with negotiations, Sigma cancelled the construction contract with STX on the 8th January 2014.

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