Petrobras has renewed the chartering contract for the Valaris DS-4 drilling platform, operated by U.S. company Valaris, for operations in deep waters off the Brazilian coast. The contract extension, announced last Monday (6th), will run for 1,064 days and become effective as of November 2027, ensuring operational continuity through 2030.
According to Valaris, the new agreement will add approximately US$ 447 million to its order backlog. The renewal occurs amid a series of recent market movements in offshore drilling, reinforcing Petrobras' position as the leading global buyer of deep-water services.
The company also reported that there was an adjustment in the daily rate of the current contract, which should result in a reduction of approximately US$ 21 million in the total value for the period between April 1, 2026 and November 2027.
Valaris President and CEO Anton Dibowitz highlighted the relevance of the partnership with the Brazilian state-owned company. According to him, the extension ensures the continuity of the platform's activities and contributes to revenue predictability for the company. "This renewal ensures continuous work for the DS-4 through 2030, supporting future earnings and cash flow," he stated.
With the new contract, Valaris brings to nearly US$ 900 million the volume of recent agreements and extensions announced, consolidating its presence in the offshore drilling segment.
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