Valaris Limited announced that Equinor has delivered a termination notice for the drilling contract awarded to drillship VALARIS DS-11.
The termination will take effect at the end of June.
As a result of the contract termination, Valaris will receive an early termination fee that is more than sufficient to cover expenses and commitments incurred by Valaris on the project.
Valaris Limited 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.