Valaris Limited (NYSE: VAL) announced today that it has been awarded a contract with Petrobras offshore Brazil for a drillship, VALARIS DS-4. The contract is for a minimum term of 548 days.
The rig is currently preservation stacked in the UK and will transit to the Canary Islands, where it will be reactivated and then mobilized to Brazil.
The contract is anticipated to commence by early second quarter 2022.
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin.