Middle East

Valaris announces jack-up deal with ARO

January 4, 2022

© Lukasz Z / Adob ​​e Stock

Valaris, an offshore drilling contractor, announced on Monday that it has signed a new bareboat charter contract with ARO Drilling for several jackups. ARO Drilling, a joint venture between Valaris and Saudi Aramco, has signed a contract with the latter for the same period as the bareboat charter contract.

Heavy Duty Harsh Environment Jack Up VARARIS 250, Heavy Duty Modern Jack Up VARARIS 116, and Standard Duty Modern Jack Up VARARIS 143 and 146 will each be under a bareboat charter contract when the existing contract with ARO Drilling is completed in December 2021. We will start the extension for 3 years. ..

In addition, the rigs ARO3003 and ARO3004 owned by ARO Drilling have each been awarded a five-year extension of contract with Aramco, which will begin upon completion of the existing contract in December 2021.

Anton Divowitz, President and Chief Executive Officer of Valaris, said: world. ARO drilling is Valaris’ strategic asset, providing a long-term growth outlook through ARO’s 20-rig new shipbuilding program with an ongoing presence in the critical offshore basin and jacking up the first two new ships. Will be delivered in the second half of 2022. We look forward to continuing to work with our joint venture partner, Aramco, to grow and deliver value from ARO drilling. “

https://www.oedigital.com/news/493239-valaris-announces-jackup-contracts-with-aro-drilling Valaris announces jack-up deal with ARO

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