Valaris 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, excluding the provision of additional services.
The contract includes two unpriced options, each with a duration of one year.
“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.
!This contract increases our backlog by approximately $350 million 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, Valaris' President and Chief Executive Officer.