Equinor operations offshore Brazil. (Source: Einar Aslaksen/ Equinor)
Equinor subsidiary Equinor Energy do Brasil Ltda. awarded Valaris Ltd. a multi-year contract for its VALARIS DS-17 drillship offshore Brazil for work on Project Raia, Valaris said in a July 22 press release.
The $498 million contract will have an estimated total duration of 852 days, including a 672-day drilling program expected to begin in early 2026.
The rig will be on standby between the rig’s current program and the beginning of the operation period for an estimated 18 days. During this time period, the rig is available for work inside and outside Brazil—an opportunity for additional revenue for Valaris.
Equinor’s partners on Project Raia are Repsol Sinopec Brazil with a 35% stake and Petrobras with 30%.
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