Valaris Limited (NYSE: VAL) (Valaris) announced that it has been awarded a contract with TAQA offshore the Netherlands (Taqa) for VALARIS JU-123, a heavy-duty harsh environment jackup. The contract is expected to commence in the fourth quarter of 2021 with an estimated minimum duration of 60 days.

The contract is for the preparation of a wellbore for the Porthos CO2 transport and storage project. In conjunction with this contract, VALARIS JU-123 will be upgraded with a selective catalytic reduction (SCR) system. When in operation, the SCR system will eliminate almost all NOx and SOx emissions from the rig.

The rig has also been awarded a one-well contract with Cairn Energy in the UK North Sea. The contract is expected to commence in the second quarter of 2022 with an estimated duration of 72 days.

Valaris has also been awarded a one-well contract with Carnarvon Petroleum offshore Timor-Leste for VALARIS JU-107, a heavy-duty modern jackup. The contract is expected to commence in the fourth quarter of 2021 with an estimated duration of 30 days.

About Valaris Limited

Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245).

About TAQA

TAQA, meaning energy in Arabic, is the brand name of Abu Dhabi National Energy Company PJSC. We are an international energy and water company listed in Abu Dhabi operating in 11 countries across four continents.
We strive to be safe and sustainable, and embrace the challenge of delivering affordable and reliable energy and water. We are proud to align our strategy with Abu Dhabi’s Economic Vision 2030, a roadmap for a sustainable economy with a focus on knowledge-based industry.
Our interests lie in conventional and alternative power generation, water desalination, oil and gas exploration and production, pipelines and gas storage. We operate in Canada, Ghana, India, Iraq, Morocco, the Netherlands, Oman, Saudi Arabia, the United Arab Emirates, the United Kingdom and the United States.