Bermuda-headquartered drilling contactor Valaris has won a multi-year contract worth around $300 million for its drillship Valaris DS-8 from UK supermajor Shell.
The contract, expected to commence in the first quarter of 2027, will see the drillship deployed offshore Brazil on its Orca (formerly Gato do Mato) field development.
The firm contract has an estimated duration of approximately 800 days and a total value of some $300 million.
Shell also has options to extend the Valaris DS-8’s charter by around a further 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 (international oil company) interest in developments offshore Brazil,” commented Valaris chief executive Anton Dibowitz.
“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.”