Valaris Limited announced that ARO Drilling, its joint venture in Saudi Arabia, received a notice of suspension from Aramco for one of its 19 contracted rigs, jackup VALARIS 143, according to the company's release. The rig’s contract was previously scheduled to end in December 2024.
The suspension notice is for a period of up to twelve months and ARO is in discussions with Aramco to determine the effective date of the suspension. During the suspension period, ARO will have the right to terminate the drilling contract with Aramco. Valaris leases VALARIS 143 (EXL I) to ARO under a bareboat charter agreement.
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. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation.