Valaris, the world’s largest offshore drilling rig owner, announced that it has signed a charter agreement for the Valaris DS-12 drilling rig with a subsidiary of global oil giant BP.
Under the contract, the Valaris DS-12 will drill five wells in Egypt for Bp Exploration Delta Limited. Operations are expected to begin in the second quarter of 2026 and last 350 days. The total contract value, including dispatch fees, is approximately $140 million, with an option for three more wells.
Anton Dibowitz, President and CEO of Valaris, stated: “This contract marks a significant step forward in our ongoing business strategy, with all four of our near-term deployable drilling rigs now under contract. Looking ahead, we anticipate securing additional high-quality projects for our premium drilling fleet.”
Public information shows that the “Valaris DS-12” was built in 2014 and adopts the DSME 12000 design. With an overall length of 780 feet, it has a maximum operating water depth of 12,000 feet and a maximum drilling depth of 40,000 feet, accommodating a crew of 200.