Valaris Secures Multi-year $498 Mln Contract For Drillship VALARIS DS-17

(RTTNews) - Monday, Valaris Ltd. (VAL), a provider of offshore drilling services, announced that it has secured a multi-year contract valued at approximately $498 million for offshore operations in Brazil on Project Raia with Equinor Energy do Brasil Ltd. for drillship VALARIS DS-17.

The contract includes managed pressure drilling, additional services, and fees for mobilization and minor rig upgrades.

This contract has an estimated duration of 852 days, featuring a 672-day drilling program expected to start in the first half of 2026. The rig will be on standby for approximately 180 days between the conclusion of its current program and the start of the operating phase.

During this standby period, the rig may be available for assignments both within and outside Brazil, potentially generating additional revenue.