Saudi Aramco Extends Contract for Drilling Rig
Saudi Aramco has extended its contract for a Valaris Limited (NYSE: VAL) standard-duty jack-up rig, Valaris reported Wednesday.
Under the latest award, Aramco secures the VALARIS JU-140 for an additional 183 days, Valaris noted in a written statement emailed to Rigzone. Because the award extends the current contract, Valaris now expects the rig to be leased through the end of this year.
The JU-140 is designed to operate in 351 to 384 feet (107 to 117 meters) of water and drill to 30,000 feet (9,144 meters), according to information on Valaris’ website.
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