Valaris wins $498-million drilling deal in Brazil

Brazil

BRASíLIA, July 22, 2024 – Valaris has been awarded a contract valued at USD 498 million by Equinor for a drilling campaign in Brazil, the US offshore drilling contractor announced on Monday.

The multi-year contract for the VALARIS DS-17 will see the drillship deployed at the Raia field development project.

The contract includes a 672-day drilling program that is expected to commence in the first half of 2026, Valaris said.

The Raia field is operated by Equinor (35%), working alongside partners Repsol Sinopec Brasil (35%) and NOC Petrobras (30%). Production from the field is slated to begin in 2028.

Photo courtesy of Valaris on LinkedIn.

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