Valaris secures Brazil drillship extension, expands Suriname collaboration strategy
Valaris has strengthened its offshore position in South America with a multi-year contract extension offshore Brazil and a new strategic collaboration agreement supporting developments in Suriname.
The company was awarded a 1,064-day contract extension by Petrobras for the ultradeepwater VALARIS DS-4 drillship offshore Brazil. The extension is expected to begin in November 2027 and will continue the rig’s existing program, securing work for the drillship into 2030.
The award is expected to add about $447 million to Valaris’ contract backlog. As part of the agreement, adjustments to the remaining day rate under the current contract will reduce backlog between April 2026 and November 2027 by about $21 million, Valaris reported.
Separately, Valaris also announced that its wholly owned subsidiary, Ensco UK Drilling Ltd., has entered into a strategic collaboration agreement with Petronas Suriname Exploration & Production BV and Halliburton to support the development of Petronas Suriname’s offshore assets. The agreement establishes a collaborative framework covering the full project lifecycle, including early planning, technical integration and continuous improvement initiatives.
The collaboration combines Valaris’ offshore drilling capabilities and global rig fleet with Petronas Suriname’s basin expertise and Halliburton’s subsurface and well construction technology.
The project is located within the Guyana-Suriname Basin, a region that continues to see strong exploration success and growing development activity, Valaris said.
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