$58m Petronas deal: How Ventura’s new drillship reshapes Southeast Asia’s
Ventura Offshore secures a $58m one-well drilling contract with Petronas.
Ventura Offshore has secured a new drilling contract in Indonesia while expanding its managed fleet of ultra-deepwater assets. The Oslo-based company announced a $58 million agreement with Petronas‘ subsidiary E&P Bobara for a one-well drilling programme in the country.
The deal covers operations in the Bobara production sharing contract (PSC) off Papua Barat, an 8,400 square kilometre block representing Petronas’ first operated deepwater acreage in Indonesia. The Malaysian state-owned company holds a 51% stake in the project, with Pertamina and TotalEnergies each owning 24.5%.
Contract and fleet expansion details: Southeast Asia
Alongside the contract, Ventura has signed a management agreement with Eldorado Drilling for the seventh-generation drillship Deep Value Driller. The vessel, acquired by Eldorado earlier this year for $300 million, will join Ventura’s managed fleet, which already includes the Atlantic Zonda drillship. The company will provide marketing and operations management services for the ultra-deepwater asset.
The contract reinforces Ventura’s presence in Southeast Asia, where its SSV Catarina semi-submersible rig is already operating. The company’s CEO, Guilherme Coelho, highlighted the significance of the deal, stating it reflects confidence in Ventura’s operational capabilities and commitment to safe, efficient drilling services.
Strategic implications
“We look forward to working closely with all stakeholders to support the successful execution of the project and to further strengthen our presence in Southeast Asia,” Coelho said.
The Deep Value Driller is scheduled for delivery in the third quarter of this year. Its addition to Ventura’s fleet comes shortly after Eldorado outbid Saipem to acquire the 2014-built drillship, demonstrating the high demand for advanced deepwater drilling assets.
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