Valaris Limited has received a contract award from Bp Exploration Delta Limited for the drillship VALARIS DS-12 in Egypt, the company said in a statement.
The five-well contract is expected to begin in the second quarter of 2026 and will last approximately 350 days. The estimated total contract value, including a mobilization fee, is about $140 million.
The agreement also includes options for three additional wells.
Valaris President and Chief Executive Officer 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 drillships that have near-term availability. Looking ahead, we expect to secure additional attractive work for our high-specification drillships.”
Valaris Limited is a Bermuda-registered offshore drilling contractor. The company provides offshore drilling services using a fleet that includes ultra-deepwater drillships, semisubmersibles, and jackup rigs across multiple international markets.
Bp Exploration Delta Limited is a subsidiary of BP p.l.c., a multinational energy company headquartered in London, United Kingdom. The subsidiary manages BP’s exploration and production operations in Egypt and other regional markets.
