Bermuda-headquartered offshore drilling contractor Valaris has won a multi-well drilling assignment for one of its drillships in West Africa with an undisclosed oil and gas operator.
Valaris’ new five-well contract will enable the Valaris DS-15 drillship to begin work off the coast of West Africa in the third quarter of 2026. This deal has an estimated duration of 250 days.
Anton Dibowitz , Valaris’ President and Chief Executive Officer, commented: “We are excited to have secured another contract for one of our high-specification drillships. As part of this contract, the rig will be upgraded with an enhanced managed pressure drilling system.”
The total contract value is approximately $135 million, including upfront payments for rig upgrades and mobilization, but it does not include the provision of additional services.
However, the contract comes with priced options for up to five more wells with an estimated total duration of 80 to 100 days. The 2014-built rig is of GustoMSC P10,000 design.
With a maximum drilling depth of 40,000 feet (12,192 meters), the drillship is capable of working in water depths of 12,000 feet (3,658 meters) and can accommodate 210 people.
Dibowitz added: “We believe this contract reflects the market’s preference for contractors that can deliver complex drilling solutions with high-specification, seventh generation drillships.
“In addition, this contract adds to our presence offshore West Africa, where we are well positioned for future contracting opportunities.”
Another one of Valaris’ drillship was expected to move to Block 10 off the coast of Cyprus to undertake exploration drilling for ExxonMobil and QatarEnergy, after the former made a gas discovery in Egypt, using the same drillship , following a six-month -priced option for the rig.