Valaris Secures Long-Term Drilling Contract in West Africa

Offshore drilling contractor Valaris has announced a significant achievement with the award of a long-term contract for one of its floaters in West Africa. The contract, spanning two years, is with an undisclosed oil and gas company in the region.

The Valaris DS-10 drillship, built in 2017, will be deployed for operations off the coast of Africa following its warm stacking in Las Palmas, Spain. The rig’s prior experience in Africa, including work with Shell, demonstrates its capability and reliability in the region.

Expressing his satisfaction, Anton Dibowitz, President and CEO of Valaris, stated, “This contract award reflects the exceptional safety and operational performance of Valaris DS-10 and its crew, known for successfully executing clients’ well programs offshore West Africa.”

“With the addition of this contract, our backlog grows by approximately $350 million, bolstering our future earnings and cash flow. We remain committed to securing more long-term contracts for our high-specification assets,” Dibowitz added.

The Valaris DS-10, a mobile offshore drilling unit (MODU) with a maximum drilling depth of 40,000 feet, is designed for water depths of up to 12,000 feet. The contract, valued at $352 million for the firm term, excludes additional services and includes two one-year extension options, providing potential for further extension of the drilling assignment.

The drillship is expected to commence operations in late Q2 or early Q3 of 2026. This latest contract success follows Valaris’s recent rig deployments in Australian and Angolan waters, showcasing the company’s continued expansion and operational excellence.