New oil drilling contract worth US$33 million is signed between the giant Valaris and the multinational BP, for operations in Brazil

Valaris' US$33 million agreement provides for the drilling of a well under an 80-day contract

Today, in a statement to the market, the renowned drilling company, Valaris, announced the acquisition of a charter contract for the DS-15 drillship destined for the oil giant BP in Brazil. This agreement further strengthens Valaris' position as a leader in the offshore drilling industry, according to the website Petronotícias.

The contract will begin in March next year and provides for the drilling of a well, with an estimated duration of 80 days. The total value of the contract is approximately at the US$33 million mark, excluding any payments related to mobilization and additional services. The daily charter rate for the vessel will be US$410.

Valaris expands its presence in the drilling industry

With this contract, Valaris reaffirms its commitment to the oil and gas industry in Brazil. BP, one of the main companies in the sector, entrusted to Valaris the important drilling task, underlining the company's solid reputation for executing complex and challenging operations. This partnership not only highlights Valaris' operational excellence, but will also contribute to the continued development of the energy sector in Brazil.

US$33 million contract for well drilling

The contract in question, scheduled to begin in March 2024, covers the drilling of a well that promises to be an important milestone for both companies. With an estimated value of US$33 million, this agreement represents a investment substantial on the part of bp. During the 80-day duration of the contract, Valaris will be responsible for conducting efficient and safe drilling operations.

Valaris' DS-15 drillship is currently involved in operations for TotalEnergies off the Brazilian coast, with a contract that will come to an end in February 2024. Valaris is confident that TotalEnergies will exercise an extension option immediately following the conclusion of the contract with bp, in May 2024. 

This means that DS-15 will return to work with TotalEnergies between June and September 2024, with an additional contract estimated at 100 days. During this period, the daily operating fee will be around US$254, marking another valuable contribution by Valaris to the oil and gas sector in Brazil.

The promising future of offshore drilling in Brazil

This contract between Valaris and bp is a positive indicator of the future of the offshore drilling industry in Brazil. As demand for energy continues to grow and new oil and gas discoveries are made off the Brazilian coast, the most disruptive like Valaris play a vital role in the exploration and development of these resources. This agreement not only benefits the companies involved, but also contributes to Brazil's economic and energy advancement.

With an ongoing commitment to safety, efficiency and innovation, Valaris is prepared to face the challenges of the offshore drilling sector and help shape Brazil's energy future. This is an exciting time for the industry, and Valaris is at the heart of operations, providing reliable and effective drilling solutions.