Valaris and its ARO Drilling joint venture secured contract extensions with BP, Saudi Aramco, Ithaca Energy and INEOS, according to the company's 2 November fleet status report. The same report says Valaris reversed the recycling sale of the jackup VALARIS 111.
BP and Saudi Aramco terms
BP awarded a three-year service contract supporting drilling operations on the Mad Dog and Thunder Horse platforms in the US Gulf. It is set to begin in January 2027 and continues the existing contract directly.
Saudi Aramco extended five ARO-owned jackups for three years starting in October 2026. The rigs are the Gilbert Rowe, SAR 201, Bob Keller, J.P. Bussell and SAR 202.
North Sea extensions
In the UK North Sea, Ithaca Energy extended the jackup VALARIS Norway by about 200 days from the second quarter of 2027. Priced options on the rig total 163 days.
INEOS added 158 days for the jackup VALARIS 122 from July 2027. Options on that rig total 541 days, for work in the UK and Danish North Sea.
VALARIS 111 goes to conversion
Valaris terminated the previously announced recycling sale of VALARIS 111. It sold the jackup to another buyer, which will convert it to a mobile offshore production unit.
Drilling Contractor reported on 7 October that VALARIS 111 and the semisubmersible VALARIS MS-1 had both been sold for recycling. VALARIS MS-1 was sold for recycling. VALARIS 111 was instead sold for conversion.
