Valaris reveals multiple contracts for jackup rigs

Valaris Limited, a US-based offshore drilling contractor, has bagged new bareboat charter contracts with ARO Drilling (Saudi Aramco Rowan Offshore Drilling Company) for various jackups.

ARO Drilling is a joint venture between Saudi Aramco and Valaris. The company has inked contracts with Aramco for the same periods as the bareboat charter agreements.

According to Valaris, the VALARIS 250 heavy-duty harsh environment jackup, the VALARIS 116 heavy-duty modern jackup and the VALARIS 143 and 146 standard-duty modern jackups will all begin three-year extensions to their bareboat charter agreements after completion of their existing agreements with ARO Drilling in December 2021.

Furthermore, both the ARO 3003 and ARO 3004 rigs owned by ARO Drilling have won five-year contract extensions from Aramco that will begin following the completion of their existing contracts in December 2021.

Anton Dibowitz — Valaris President and CEO said: “We are very pleased to have secured additional work for four of our high-quality modern jackups, extending our long-standing relationship with Aramco, one of the largest customers for offshore drilling rigs in the world.

“ARO Drilling is a strategic asset for Valaris, providing a continued presence in an important offshore basin and long-term growth prospects via ARO’s twenty-rig newbuild program, with the first two newbuild jackups expected to be delivered in the second half of 2022. We look forward to continuing to work with our joint venture partner, Aramco, on growing and delivering value from ARO Drilling.”