Valaris confirms new deals and contract extensions totaling almost £200m

Rig operator Valaris has announced a number of global contracts and contract extensions totaling almost £200 million.

The firm has today confirmed several new awards, including the drilling contract for Neptune Energy’s Seagull project in the UK North Sea, which was announced yesterday.

The total contract revenue is £199, 746,050.

Valaris announced a new one-well deal with Amni in Ghana due to begin in March 2020, alongside a extension deal with Equinor for a two wells off Norway.

A previously disclosed contract with Premier Oil in the North Sea has been transferred to Valaris also.

It has also had contracts extended with Fieldwood in the Gulf of Mexico and Woodside for a seven-well deal off Australia.

A two month extension was also announced with Mubadala Petroleum for work in Thailand.

Valaris announced yesterday it would us the Rowan Gorilla VI jack-up to drill four wells for the Seagull development which is thought to hold 50 million barrels of reserves.

The value of the deal was not disclosed.

EnscoRowan merged in July to become Valaris.

The firm’s chief executive Tom Burke said at the time that the new identity would “help us usher in a new era” for the company.

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