New York-listed offshore driller Valaris announced that it 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. The total contract value does not include the provision of additional services. The contract includes two unpriced options, each with a duration of one year.
“This contract increases our backlog and supports our future earnings and cash flow, and we remain focused on securing additional attractive long-term contracts for our high-specification assets,” said Anton Dibowitz, president and CEO of Valaris.”
Public data shows that the drillship “Valaris DS-10” was built and delivered by Samsung Heavy Industries in 2017, with a maximum operating depth of 12,000 feet. From August 2023 to August 2024, the drillship has been deployed in Nigerian waters.
Valaris is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin.