Valaris, an offshore drilling contractor, has announced the start of its drilling assignment with Petrofac in the UK sector of the North Sea using one of its jack-up rigs.

Earlier this year, Valaris secured a one-well contract with Petrofac for the Valaris 121 heavy-duty harsh environment jack-up rig in the UK North Sea. The contract, scheduled to commence in the early third quarter of 2023, is expected to last between 70 to 100 days.

According to Valaris, the Valaris 121 rig has now begun its drilling campaign with Petrofac, which is anticipated to conclude in September 2023. Tord Vintervold, Rig Manager, expressed his excitement about the successful arrival of the rig at its designated location and the commencement of the contract following a productive and safe shipyard visit.

Following completion of the assignment with Petrofac, the Valaris 121 rig is set to embark on a 210-day contract with Shell in the UK North Sea starting in October 2023. This contract, with an estimated value of over $25 million, includes four priced options.

Previously, the rig worked for Harbour Energy in the UK from July 2021 to November 2022. The Valaris 121 jack-up rig has a capacity to accommodate 150 personnel and a maximum drilling depth of 40,000 feet.

Valaris has secured several new contracts for its rig fleet in recent months, including deals in the U.S. Gulf of Mexico and Australia, which were announced at the beginning of July.