Vantage Drilling sells jackup trio to ADES Arabia

Houston-based Vantage Drilling International has sold subsidiary company Emerald Driller Company to ADES Arabia Holding for $170m. An additional $34m is payable for mobilization and contract preparation costs.

Assets changing hands include three jackup rigs – the Emerald Driller, the Sapphire Driller and the Aquamarine Driller – and their respective drilling contracts. The rigs are all currently in use in Qatar.

Vantage will also provide support services to ADES for the three rigs for a period of three years.