Offshore drilling contractor Valaris has secured a new multimillion-dollar assignment for its 12-year-old drillship off the coast of Egypt with BP Exploration Delta, a subsidiary of the UK-headquartered energy giant BP.
Thanks to a five-well contract with BP, the 2013-built Valaris DS-12 drillship will carry out drilling activities offshore Egypt . With an estimated duration of 350 days, this assignment is scheduled to begin in the second quarter of 2026.
Valaris highlights that the estimated total contract value, inclusive of a mobilization fee, is approximately $140 million. However, the deal also includes three option wells.
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Anton Dibowitz , Valaris’ President and Chief Executive Officer, commented: “We are pleased that DS-12 will return to Egypt with BP, building on our successful exploration campaign together.
“With this award, we continue to execute our commercial strategy, having now contracted all four drillships that have near-term availability. Looking ahead, we expect to secure additional attractive work for our high-specification drillships.”
The 780-foot Valaris DS-12 drillship was built by DSME Okpo shipyard in Geoje, South Korea, and can accommodate 200 people. The rig’s maximum operating water depth is 12,000 feet, while its maximum drilling depth is 40,000 feet.
Previously, BP used this drillship for drilling activities at the West Nile Delta (WND) concession, after securing the rig in November 2022 for a four-well contract in Egyptian waters.