Valaris books $300 million Shell drilling contract offshore Brazil
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Offshore drilling contractor Valaris Limited [NYSE: VAL] reports that Shell has awarded it a multi-year contract offshore Brazil for its drillship Valaris DS-8<\/em>. <\/a>The contract is expected to commence in the first quarter of 2027, with an estimated duration of approximately 800 days and a total contract value of approximately $300 million. The contract also includes options with a total estimated duration of approximately one year.<\/p>\n \u201cWe are pleased to have been selected by Shell to provide drilling services on the Orca project, <\/a>demonstrating both their confidence in Valaris to deliver complex deepwater drilling solutions and the growing IOC [international oil company] interest in developments offshore Brazil,\u201d said Anton Dibowitz<\/a>, Valaris\u2019s president and CEO. \u201cWe continue to successfully execute our commercial strategy, with over $2.5 billion of backlog secured year to date to support future earnings and cash flow.\u201d<\/p>\n<\/p>\n The post Valaris books $300 million Shell drilling contract offshore Brazil<\/a> appeared first on Marine Log<\/a>.<\/p>\n<\/div>\n