Valaris has added about $220 million to its contract backlog through new offshore drilling contracts and extensions since its previous fleet update in August, including work in Suriname…
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Valaris has added about $220 million to its contract backlog through new offshore drilling contracts and extensions since its previous fleet update in August, including work in Suriname, Australia and the North Sea.
The offshore driller secured a two-well exploration contract with PETRONAS Suriname Exploration & Production for drillship VALARIS DS-18, following a previously announced Letter of Award. The campaign is expected to start in the fourth quarter of 2026 and run for up to seven months.
The $220 million backlog figure excludes lump-sum payments including mobilization fees and capital reimbursements.
Offshore Australia, jack-up VALARIS 107 received a contract expected to start after its current commitments and run for about 300 days. The contract represents about $50 million of backlog, excluding mobilization and demobilization compensation, and includes priced options.
Valaris also received a multi-well plug and abandonment contract in the Southern North Sea that can be performed by any suitable and available rig in its North Sea fleet. The 341-day program has a start window extending through December 2030 and represents an estimated $41.5 million of
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