Bermuda offshore drilling company Valaris has secured more drilling work for one of its drillships off the coast of Brazil with state-owned energy giant Petrobras.
Valaris has been awarded a 1,064-day contract extension with offshore company Petrobras in Brazil Valaris DS-4 Drill ship. This position is expected to begin in November 2027 in direct continuation of the current programme.
The extension will add approximately $447 million to the rig owner’s contract backlog. Today’s rate has been adjusted for the remainder of the current decade, reducing the contract backlog from April 1, 2026 to November 2027, by approximately $21 million.
Anton DebowitzValaris President and CEO commented: “We are pleased to expand our long-standing partnership with Petrobras in Brazil, which remains the largest source of deepwater demand globally. This contract extension ensures continued operation of DS-4 until 2030, supporting future earnings and cash flow.”
The latest contract extension comes shortly after Valaris Announce Trades and extensions, with an associated contract backlog of approximately $900 million.
Petrobras also recently extended several other rig deals, including those… Cedrill, Across the ocean, Ventura Offshoreand constellation.
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