Valaris Restricted has been awarded a five-well contract offshore West Africa for drillship VALARIS DS-15. The contract is anticipated to begin within the third quarter 2026. The overall contract worth, primarily based on an estimated length of 250 days, is roughly $135 million, together with upfront funds for rig upgrades and mobilization. The overall contract worth doesn’t embody the availability of extra providers. The contract contains priced choices for as much as 5 wells with an estimated whole length of 80 to 100 days.
See additionally: Drillships within the digital age: Capturing new alternatives for smarter, safer and extra sustainable operations—at any age
“We’re excited to have secured one other contract for considered one of our high-specification drillships,” stated Valaris President and CEO Anton Dibowitz. “As a part of this contract, the rig shall be upgraded with an enhanced managed strain drilling system. We imagine this contract displays the market’s desire for contractors that may ship advanced drilling options with high-specification, seventh era drillships. As well as, this contract provides to our presence offshore West Africa, the place we’re effectively positioned for future contracting alternatives.”