Valaris Limited has announced it has been awarded new contracts and extensions, with an associated backlog sitting at approximately US$220mn.

The company has won a two-well exploration contract with Petronas Suriname Exploration & Production B.V for its drillship VALARIS DS-18. The contract is expected to commence in Q4 2026 with a duration of seven months.

VALARIS 107 will head over to Australia with a new contract expected to commence following its current commitments, with an expected duration of 300 days.

The company has also secured a new multi-well P&A contract in the Southern North Sea. The contract is a fleet award under which operations may be performed by any suitable rig within the North Sea fleet. The commencement window is up until December 2030, and has an estimated duration of 341 days.

A contract extension has been granted for VALARIS 122 with INEOS for a project in the Danish North Sea, which will commence in February 2027 for approximately 126 days.