The New York-listed offshore drilling company Valaris Limited (Valaris) won a multi-year contract with Shell offshore Brazil for the drillship VALARIS DS-8.
Valaris reports that the new contract is expected to start in the first quarter of 2027, with an estimated duration of approximately 800 days, and a total contract value of around $300m.
Furthermore, the contract 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,” says Anton Dibowitz, president and chief executive officer of Valantis Limited.
