Valaris Limited (NYSE: VAL) (Valaris) announced on Monday (Sep 20) that it has been awarded a contract with TAQA offshore the Netherlands for VALARIS JU-123, a heavy-duty harsh environment jackup. The contract is expected to commence in the fourth quarter of 2021 with an estimated minimum duration of 60 days.
The contract is for the preparation of a wellbore for the Porthos CO2 transport and storage project. In conjunction with this contract, VALARIS JU-123 will be upgraded with a selective catalytic reduction (SCR) system. When in operation, the SCR system will eliminate almost all NOx and SOx emissions from the rig.
The rig has also been awarded a one-well contract with Cairn Energy in the UK North Sea. The contract is expected to commence in the second quarter of 2022 with an estimated duration of 72 days.
Valaris has also been awarded a one-well contract with Carnarvon Petroleum offshore Timor-Leste for VALARIS JU-107, a heavy-duty modern jackup. The contract is expected to commence in the fourth quarter of 2021 with an estimated duration of 30 days.