Valaris lands drillship and jackup work across three continents
Valaris secured a two-well exploration contract with PETRONAS Suriname Exploration & Production for the drillship VALARIS DS-18. The contract, which follows a previously announced letter of award, is set to start in the fourth quarter of 2026 and run for up to seven months.
Offshore Australia, the jackup VALARIS 107 won a contract of about 300 days that will begin after its current commitments and includes priced options. In the Southern North Sea, Valaris landed a multi-well plug and abandonment fleet award that any suitable and available rig in its North Sea fleet may carry out. The contract has a commencement window running to December 2030 and an estimated duration of 341 days, plus a one-well option of about 19 days.
The jackup VALARIS 122 received an extension with INEOS for a project in the Danish North Sea that will start in February 2027 in direct continuation of the existing program. It has an estimated duration of 126 days, with options totaling about 699 days for work in the UK and Danish sectors.
Valaris also amended a previously announced Eni contract in the East Irish Sea. VALARIS 121 will take on about eight and a half months of the program starting in November 2026, so VALARIS 72 is now expected to finish in March 2027 rather than September 2027. The semisubmersible VALARIS MS-1 and the jackup VALARIS 111 were sold for recycling in September.
