HAMILTON, Bermuda – Valaris Ltd has won new drilling contracts and contract extensions from BP and TotalEnergies.
The drillship VALARIS DS-15 is due to start an 80-day, one-well contract for BP offshore Brazil late in 1Q or early 2Q 2024, in direct continuation of the vessel’s current program in the region for TotalEnergies.
Estimated contract value is around $33 million, excluding payments for mobilization and any additional services.
TotalEnergies has exercised an option to take the same drillship for a 100-day program off Brazil following completion of the BP assignment, starting by early 3Q 2024, and at a dayrate of $254,000.
Finally, BP Indonesia has taken up a five-well priced option for the heavy duty jackup VALARIS 106. The option period should take effect next January 2024, in direct continuation of the existing firm program, with an estimated duration of 365 days and a dayrate of $85,000, increasing to $95,000 from January 6, 2025.
During 2Q-3Q 2024, Valaris expects the rig to be out of service for around 90 days for maintenance.