Offshore drilling contractor Valaris has secured a valuable two-year contract worth $352 million for its DS-10 drillship with an undisclosed oil and gas company in West Africa. The 2017-built drillship, currently warm stacked in Las Palmas, Spain, is expected to commence operations either late in the second quarter or during the third quarter of 2026.
The contract comes with additional potential value through two unpriced options, each with a duration of one year, potentially extending the drilling assignment further. Valaris President and Chief Executive Officer Anton Dibowitz expressed pride in the achievement, stating: “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.”
Dibowitz further noted that the contract increases their backlog by approximately $350 million and supports future earnings and cash flow. The company remains focused on securing additional attractive long-term contracts for its high-specification assets. The Valaris DS-10 drillship, which is of Samsung GF12000 design, has previously conducted successful operations in Africa, including projects with Shell.
Source: offshore-energy.biz
