New York-listed offshore driller Valaris has secured a new contract for one of its drillships operating in Africa.
The company announced that the Valaris DS-10 drillship has been awarded a two-year contract for operations offshore West Africa. The contract, with an undisclosed client, is set to commence in the second or third quarter of 2026.
The firm term of the contract is valued at $352 million, excluding any additional services. Additionally, the agreement includes two unpriced options, each spanning one year.
Anton Dibowitz, the president and CEO of Valaris, commented on the contract, stating, “This contract adds to our backlog and reinforces our future earnings and cash flow. We are committed to securing more long-term contracts for our high-specification assets.”
The Valaris DS-10 drillship, built in 2017, has been warm-stacked in Las Palmas following its previous contract with Shell in Nigeria. The drillship was engaged in a one-year contract with Shell from August 2023 to August 2024.