Offshore drilling firm Valaris has won a contract extension with Aramco in Saudi Arabia for one of its standard-duty modern jackup drilling rigs.
The Saudi national oil company has elected to extend the charter of the VALARIS JU-140 jack-up by 183 days.
"The extension is in direct continuation of the existing contract and, as a result, the VALARIS JU-140 (Ex-Ensco 140) is now expected to be under contract through the end of 2021," Valaris said. The drilling firm did not share the financial details of the agreement.
The VALARIS JU-140 was built by Lamprell in the UAE and delivered in August 2016 under the name Ensco 140.
The rig of the LeTourneau Super 116E design can operate in water depths of up to 340ft ($103.6m). Its maximum drilling depth is 30,000ft (9144 m). The jack-up can accommodate 140 persons.
The contract, announced Wednesday, is the second drilling contract announcement by Valaris this week. Valaris on Tuesday said that the oil major BP had hired the VALARIS DS-12 drillship to drill four offshore wells offshore Mauritania and Senegal.