Valaris has been awarded a multi-year contract with Shell offshore Brazil for drillship VALARIS DS-8. The contract is expected to commence in the first quarter of 2027, with an estimated duration of approx. 800 days and a total contract value of approx. $300 million. The contract also includes options with a total estimated duration of approx. one year.
President and Chief Executive Officer Anton Dibowitz said, '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.'
Source: Valaris
