Valaris has secured new contract awards and extensions, including an exploration drilling campaign offshore Suriname, a major P&A program in the southern North Sea and additional jackup work in Australia and the UK sector.
Valaris has secured new fixtures and contract extensions for its rig fleet with a total value of about $220 million, according to the company’s latest fleet status update.
PETRONAS Suriname Exploration & Production has taken the drillship VALARIS DS-18 on a two-well exploration contract, due to take effect in the current quarter.
All the other awards are for jackups. They include a 300-day program offshore Australia for VALARIS 107, which is set to start after the rig completes its current commitments.
For a newly awarded multi-well P&A contract in the southern North Sea, operations will be performed by any suitable/available rig in Valaris’ North Sea fleet. The contract has a commencement window up to December 2030, with an estimated duration of 341 days.
In addition, there is a one-well option, estimated at 19 days.
INEOS has extended its contract for VALARIS 122 for a project in the Danish North Sea, with the extension (up to 126 days) likely starting in February 2027, in direct continuation of the existing program, at a rate of $115,000/d.
There are options to extend with an estimated total duration of 699 days for work in the UK and Danish North Sea.
A contract for VALARIS 72 with Eni in the East Irish Sea (UK) has been amended. VALARIS 121 will now take on eight and a half months of the program, starting next month after the rig has finished a program with another operator.
VALARIS 72 is now expected to complete its program in March 2027, nine months earlier than originally planned.
And Seatrium has extended VALARIS 248’s contract in the UK North Sea, to provide accommodation support for an offshore wind project, by 31 days.
Valaris also revealed that it sold the semisub VALARIS MS-1 and the jackup VALARIS 111 last month for recycling.
“Join the companies that smart energy professionals follow – because when you’re featured on GEN, the industry pays attention.”