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Scheduled to start in 2023, Valaris will use a DS-17 drillship in the Bacalhau Project region to carry out offshore drilling of wells in the national territory, following a contract signed with the oil and gas company Equinor.
The drilling contractor Valaris has taken another step towards growth in the Brazilian market and, for this Tuesday (06/07), has a new contract signed with the oil company Equinor in the country. In this way, the company will use the drillship DS-17 to carry out offshore drilling operations in the areas of the Bacalhau Project, located in the Santos Basin, over the next few years.
Equinor awards Valaris an offshore drilling contract in the areas of the Bacalhau Project for a total of 540 days for oil and natural gas exploration
The Norwegian oil and natural gas company Equinor signed yet another significant partnership for the fuel market in the national territory, this time with the drilling contractor Valaris. In this way, Valaris will use its drillship DS-17 in the next 540 days after the start of the project, which is scheduled for the year 2023, and will carry out a series of offshore drilling operations in the areas of the Bacalhau Project, currently managed by the oil company.
Thus, with the agreement signed with Equinor and the other participants of the Bacalhau Project, Valaris will use the Valaris DS-17 drillship to drill an appraisal well, connect an old exploration well and conduct additional drilling scope in Brazil.
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In this way, the contractor's contract is not limited only to the transaction with Equinor, since the companies participating in the project are also involved in the agreement. They are Equinor 40% (operator), ExxonMobil 40%, Petrogal Brasil 20% and Pré-sal Petróleo SA, which does not act as an investor, but as a production sharing manager.
And, after finalizing the agreement to drill the wells, executive Geir Tungesvik, Executive Vice President of Projects, Drilling and Procurement at Equinor, commented on the importance of Brazil in the oil and gas scenario and said: “Brazil is one of Equinor's main areas, and Bacalhau is one of our main international projects. We look forward to working with one of the world's largest rig contractors and have high expectations for their safe and efficient deliveries.”
Transaction value in the agreement between the companies for the use of the drillship DS-17 in the drilling of wells is US$ 327 million
In addition to announcing the closing of the agreement with the drilling contractor, Equinor disclosed the total values of the transaction, which are around US% 327 million. Accordingly, there will be an initial payment of approximately US$86 million for mobilization costs, in addition to a contribution towards reactivation costs and capital updates.
The remaining amount will refer to operating costs and additional services required in the drilling processes.
Among the main additional services used by operations with the DS-17 drillship are managed pressure drilling (MPD), a Operação (ROV), coating operation, slop treatment and cuttings handling.
Thus, Equinor stated that the use of drilling operations in the Bacalhau Project will allow the company and its partners to expand the exploration of resources in the Santos Basin and the arrival of the Valaris D-17 reinforces the company's commitment to operational quality.
Learn more about Equinor
The Equinor company is currently Norway's largest oil and gas operator and one of the largest offshore operators in the world, in addition to having around 20.000 people developing oil, gas, wind and solar energy in more than 30 countries worldwide, with focus now on expanding the oil and gas market following the agreement with Valaris.
