Valaris Nets Charter Extension for Jack-Up Drilling Rig in Saudi Arabia

Illustration - Credit: Lukasz Z / AdobeStock
Illustration - Credit: Lukasz Z / AdobeStock

Offshore drilling rig company Valaris said Wednesday it had won a contract extension with ARO Drilling for Valaris JU-36 jack-up drilling unit.

The rig, formerly known as Charles Rowan, is a standard duty jack-up and will stay with ARO Drilling, a Saudi-focused offshore drilling joint venture between Valaris and Saudi Aramco, for 211 more days.

Valaris said the charter extension was in direct continuation of the existing contract, which means the Valaris JU-36 will be under contract through March 2022. 

ARO Drilling’s contract with oil firm Saudi Aramco has been extended for the same period. No dayrate details have been shared.

Earlier this year, back in July, ARO Drilling awarded a 200-day extension for Valaris' for the heavy-duty ultra-harsh environment jack-up drilling rig Valaris JU-250 (ex-Bob Palmer). The contract will keep the rig employed through the end of 2021.

The Valaris JU-250, of the LeTourneau Technologies Super Gorilla XL Class design, was built in Vicksburg, Mississippi in 2003. It was upgraded in 2007.

According to data provided to Offshore Engineer by Wood Mackenzie, worldwide jack-up rig utilization in September was 69%, with 302 rigs contracted, and 136 available.

Utilization in the Middle East was 84% in September, with 116 rigs under contract and 22 available.

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