Valaris gains more work for drillship and multiple jackup rigs
Valaris has secured new contracts and contract extensions with a combined value of about $560 million, lifting the company’s total backlog to $4.9 billion.
Petrobras has extended the contract for the drillship VALARIS DS-4 by 1,064 days, with extension set to take effect in November 2027.
All the other new awards are for jackup rigs:
- VALARIS 115: two-year contract extension with Brunei Shell Petroleum, starting in April 2027;
- VALARIS 106: one well for Medco Energi offshore Indonesia. The minimum 45-day program began last month;
- VALARIS 122: 123-day contract extension with Adura in the UK North Sea, now underway, to provide accommodation support services. The same rig will start a 162-day contract in September with INEOS in the UK North Sea, with options for up to 825 days for work in both the UK and Danish sectors.
- VALARIS 123: 123-day contract extension with TAQA in the Dutch North Sea, with accommodation support services underway.
- VALARIS 248: 74-day contract extension with GE Vernova in the UK North Sea to provide accommodation support services for an offshore wind project.
The company also revealed that completion of planned shipyard projects for the VALARIS 116 and VALARIS 250 has been delayed, with bareboat charters for the rigs set to resume now and during the third quarter.
Operations for VALARIS 110, under contract to NOC offshore Qatar, have been suspended since early March.
The semisubmersible VALARIS DPS-1 was sold for recycling in April.
About the Author
Jeremy Beckman
Editor, Europe
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.