Offshore drilling contractor Valaris has secured a multi-year contract with Shell for its VALARIS DS-8 drillship, which will be put to work offshore Brazil.
The contract is expected to start in the first quarter of 2027, with an estimated duration of approximately 800 days.
The total contract value for the VALARIS DS-8, a 2014-built Samsung 78k drillship, is approximately $300 million.
The contract also includes options with a total estimated duration of approximately one year.
“We are pleased to have been selected by Shell to provide drilling services on the Orca project, demonstrating both their confidence in Valaris to deliver complex deepwater drilling solutions and the growing IOC interest in developments offshore Brazil.
“We continue to successfully execute our commercial strategy, with over $2.5 billion of backlog secured year to date to support future earnings and cash flow,” said Anton Dibowitz, President and Chief Executive Officer of Valaris.