Two-year contract for drillship in West Africa
Company announces multi-million-dollar contract
Valaris Limited has been awarded a two-year contract offshore West Africa for drillship Valaris DS-10 that is expected to commence late in the second quarter or in the third quarter 2026.
The total contract value for the firm term is $352 million and does not include the provision of additional services. The contract includes two unpriced options, each with a duration of one year.
“This contract award is a testament to the safety and operational performance of VALARIS DS-10 and its crews, which have an excellent track record of successfully executing clients’ well programs offshore West Africa,” said President and Chief Executive Officer Anton Dibowitz
“This contract increases our backlog by approximately $350 million and supports our future earnings and cash flow, and we remain focused on securing additional attractive long-term contracts for our high-specification assets,” he added.
According to the company’s fleet status report released in February of this year, the Valaris DS-10 is currently warm stacked in Las Palmas, Spain. The drillship was built by Samsung Heavy Industries in South Korea and launched in 2017.
Flagged under the Marshall Islands, the vessel has a maximum drilling depth of 40,000 ft (12,000 m) and can accommodate 200 people.
1375