Valaris Secures 800-Day Drillship Contract from Shell for Brazil's Orca Project

Valaris has contracted its drillship Valaris DS-8 to Shell for the Orca project offshore Brazil, set to start in Q1 2027. The contract, valued at approximately $300 million, spans around 800 days with options extending the duration by an additional year.

Currently, the drillship is operating under a contract with Petrobras, which ends in December 2026. The Orca project aims to install an FPSO capable of producing 120,000 barrels of oil per day, with recoverable resources estimated at 370 million barrels. Initial operations will focus on reinjecting natural gas, with plans to export gas to onshore facilities, and production is expected to commence in 2029.