Fossil Energy – Drilling
Valaris has secured contract extensions for its 12,000-ft drillships Valaris DS-7 and Valaris DS-9 offshore Angola.
Valaris DS-7 has been awarded a five-well contract extension with Azule Energy offshore Angola, to commence in October 2026 in direct continuation of the rig’s existing program with Azule.
Valaris DS-7 has been working for Azule Energy offshore Angola since its reactivation in mid-2024.
The extension has an estimated duration of 325 days and includes a five-well unpriced option with an estimated duration of 300 to 350 days.
Valaris stated that the contract extension will add around $125 million to its contract revenue backlog.
Valaris DS-9 secured a two-year contract extension with ExxonMobil affiliate Esso Exploration Angola. The two-year extension is to begin in July 2026 in direct continuation of the existing program and includes two six-month options.
Valaris DS-9 has been with ExxonMobil since 2022, predominantly working offshore Angola but with stints drilling in Egypt and Cyprus in late 2024 and 2025. The new extension keeps the rig firm in Angola into 2028.
