US-based offshore drilling contractor Valaris has secured a contract from BP Exploration Delta, a subsidiary of bp, for its drill-ship Valaris DS-12.
The contract is valued at around $140m and includes a mobilisation fee.
It will commence in the second quarter of 2026 (Q2 2026) and has an estimated duration of 350 days.
The contract will cover five wells in Egypt and also includes three option wells.
Egypt Oil and Gas reported that bp plans to begin operations in 2026, focusing on sidetrack, development and exploration wells to enhance natural gas production.
The programme will use existing infrastructure in the West Nile Delta to improve efficiency and streamline production timelines.
Valaris president and CEO Anton Dibowitz said: “We are pleased that DS-12 will return to Egypt with bp, building on our successful exploration campaign together.
“With this award, we continue to execute our commercial strategy, having now contracted all four drill-ships that have near-term availability.
“Looking ahead, we expect to secure additional attractive work for our high-specification drill-ships.”
Valaris is engaged in providing offshore drilling services across all water depths and geographies, with its fleet of ultra-deep-water drill-ships, versatile semi-submersibles and modern shallow-water jack-ups.
Its 780ft Valaris DS-12 drill-ship was constructed at the DSME Okpo shipyard in Geoje, South Korea, and has the capacity to accommodate 200 personnel.
It is designed for operations in water depths of up to 12,000ft and can drill to a maximum depth of 40,000ft.
Last year, Valaris secured a $498m (€430.92m) contract from Equinor for drilling activities at the Raia project offshore Brazil, with operations set to begin in 2026.
The contract, which includes a gap period, mobilisation, modifications and integrated services, will see the drilling of six wells, with production expected to begin in 2028.
