Offshore drilling contractor Valaris has secured a five-well contract with BP’s subsidiary BP Exploration Delta for VALARIS DS-12 drillship in Egypt.
The contract is expected to begin in the second quarter 2026 and has an estimated duration of 350 days.
The estimated total contract value, inclusive of a mobilization fee, is approximately $140 million.
The contract also includes three option wells, Valaris added.
To remind, BP used VALARIS DS-12 drillship for drilling operations at the El Fayoum-5 gas well in the North Alexandria Offshore Concession, which was the final well in its four-slot drilling campaign in the West Nile Delta.
El Fayoum-5 was spudded on February 14, 2025, and encountered four prospective Messinian gas reservoirs, with a total sand thickness of 50 meters at a measured depth of approximately 2,900 meters.
“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,” said Anton Dibowitz, President and Chief Executive Officer.
VALARIS DS-12 is a DSME 12000 double hull DP drillship delivered from DSME Okpo shipyard in Geoje, South Korea, in 2013.