Valaris Limited announced that it has been awarded a five-well contract with BP Exploration Delta Limited for drillship VALARIS DS-12 in Egypt. The contract is expected to commence in the second quarter of 2026 and is estimated to have a duration of 350 days.
According to Valaris, the estimated total contract value, inclusive of a mobilization fee, is approximately $140 million. The contract also includes three option wells.
President and Chief Executive Officer Anton Dibowitz said, “We are pleased that DS-12 will return to Egypt with bp, building on our successful exploration campaign together.
With this award, we continue to execute our commercial strategy, having now contracted all four drillships that have near-term availability. Looking ahead, we expect to secure additional attractive work for our high-specification drillships.”
In West Africa, Valaris is estimated to have about three drillships operating in West African deepwater operations. VALARIS DS-7 has been operating offshore West Africa under a 12-well contract since 2023.
VALARIS DS-15 is scheduled to start a new contract in West Africa in the third quarter of 2026. VALARIS DS-10: Recently completed a contract in Nigeria in August 2024 and is set to begin a new West Africa contract in Q2 or Q3 2026, possibly with Shell at the Bonga field
