Valaris bags contract for drillship ‘VALARIS DS-12’

Source: press release, 21 November 2022

‘VALARIS DS-12’, a DSME 12000 double-hull DP drillship
‘VALARIS DS-12’, a DSME 12000 double-hull DP drillship (photo: Valaris Limited)

Valaris Limited has announced that drillship VALARIS DS-12 has been awarded a four-well contract with BP offshore Egypt. The contract is expected to commence late in the third quarter or early in the fourth quarter 2023 and has an estimated duration of 320 days. The estimated total contract value, inclusive of a mobilisation fee, is USD 136.4 million.

President and Chief Executive Officer Anton Dibowitz says, “We are honoured that BP has chosen VALARIS DS-12 for their upcoming development campaign offshore Egypt. The rig has a long and successful track record with the customer, having worked for BP in several locations offshore Africa, including Egypt, over the past three and a half years. We look forward to partnering with BP on another successful campaign.”

Dibowitz adds, “We retain significant operating leverage to the improving deepwater market through our fleet of 11 drillships, including three uncontracted high-specification rigs VALARIS DS-7, DS-8 and DS- 11, plus attractively priced purchase options for newbuild rigs VALARIS DS-13 and DS-14.”