Offshore staff
HOUSTON — Valaris has issued details of new offshore drilling contract awards and extensions in its latest fleet status report.
Offshore Brazil, TotalEnergies has lengthened its contract for the drillship VALARIS DS-15 by 250 days, with the extension period set to take effect in fourth-quarter 2024. Total value for the firm period, excluding provision of managed pressure drilling (MPD) and additional services, is $100 million. The contract includes two 160-day and one 120-day priced options, with increased day rates for each period. If all are exercised, the overall value would reach about $210 million, or more if TotalEnergies opts for MPD and other activities.
bp has also contracted the vessel for a one-well program next year, which should begin by early second quarter and last about 80 days.
Petrobras has taken up a six-month priced option ($41 million) for the drillship VALARIS DS-4 that will take effect in January 2024 in direct continuation of the existing program.
Offshore Mexico, Eni has booked the semisub VALARIS DPS-5 for two wells with operations set to start in March 2024, with a minimum duration of 110 days and a day rate of $345,000, plus a $3 million mobilization fee.
In the East Irish Sea northwest of the UK, Eni has contracted the jackup VALARIS 72 for a 55-well P&A program that is set to begin next month and continue for nearly four years. However, VALARIS Norway will substitute for VALARIS 72 until the latter completes its current contract with Eni in the UK North Sea, expected to finish in December 2024.
TAQA has agreed to take the heavy-duty harsh environment jackup VALARIS 123 on a six-well contract for the Porthos Carbon Capture and Storage (CCS) project in the Dutch North Sea. The program could cover up to 10 wells and would take about 300 days to complete following the anticipated start in fourth-quarter 2024.
Operating day rate is $142,500, increasing to $152,500/d from Jan. 1, 2025, and $162,500/d from Jan. 1, 2026.
BP Trinidad has agreed to a six-well contract extension for the heavy duty modern jackup VALARIS 118, likely starting in March 2024 and lasting about one year (estimated value of $51 million).
And Perenco T&T has engaged the ultra-harsh environment jackup VALARIS 249 to drill one open-water appraisal well in the second half of next year on the TSP block, offshore Trinidad’s southeast coast of Trinidad. This will be in direct continuation of the rig's current program with another operator.
Finally, BP Indonesia has exercised a five-well priced option for the heavy-duty jackup VALARIS 106, which should take effect in January, with an estimated duration of 365 days and an initial day rate of $85,000, rising to $95,000 from Jan. 6, 2025. The rig is due to be out of service for about 90 days for maintenance between the second and third quarters in 2024.
11.02.2023
