Valaris Limited has announced that it has been awarded new bareboat charter agreements with ARO Drilling for several jackups. ARO Drilling has signed contracts with Aramco for the same period.
Following the completion of their existing bareboat charter agreements with ARO Drilling in December 2021, the heavy-duty harsh environment jackup VALARIS 250, heavy-duty modern jackup VALARIS 116, and standard-duty modern jackups VALARIS 143 and 146 will each begin three-year extensions to their bareboat charter agreements.
Aramco has also given ARO Drilling’s rigs ARO 3003 and ARO 3004 five-year contract extensions, which began after their current contracts expired in December 2021.
Aramco has also given ARO Drilling’s rigs ARO 3003 and ARO 3004 five-year contract extensions
President and CEO of Valaris, Anton Dibowitz, 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 20-rig new build program, with the first two new build 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.”