In a press release despatched to Rigzone by the BP group on Monday, BP introduced the award of a rig contract to Valaris for the DS-12 deepwater drillship to drill 5 wells within the Mediterranean.
The assertion outlined that the wells can be drilled offshore Egypt in water depths starting from 300 to 1,500 meters (984 to 4,921 toes). Drilling operations are anticipated to begin in 2026, in accordance with the assertion, which famous that this system goals to “speed up the event and manufacturing of fuel reserves whereas using current manufacturing services within the Nile Delta”.
The rig contract signing ceremony occurred on the Egypt Ministry of Petroleum and Mineral Assets and was attended by Karim Badawi, Minister of Petroleum and Mineral Assets and Mahmoud Abdel Hamid, Chairman of the Egyptian Pure Fuel Holding Firm, BP highlighted within the assertion. BP additionally identified within the assertion that the rig contract signing follows the go to of Badawi to BP’s London headquarters in September. Throughout that go to, BP signed a Memorandum of Understanding with EGAS to drill 5 wells within the Mediterranean, BP highlighted.
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Nader Zaki, BP Regional President for the Center East and North Africa, mentioned within the assertion, “we worth our longstanding partnership with the Egyptian authorities”.
“This signing represents a strategic milestone in our investments in Egypt’s vitality sector throughout this decade, enabling us to develop further fuel sources within the Nile Delta and convey them into manufacturing as rapidly as potential to fulfill the rising home market wants,” Zaki added.
Wail Shaheen, BP Egypt President, mentioned within the assertion, “this signing builds on our current exploration success within the Nile Delta and displays our continued dedication to growing Egypt’s fuel sources”.
“The DS-12 rig will allow us to construct on the momentum of our current marketing campaign, discover for brand new sources, and speed up the event of recent discoveries to assist Egypt’s vitality safety and maintain manufacturing from the WND services past 2030,” Shaheen added.
BP highlighted in its assertion that it plans to “improve manufacturing to 2.3-2.5 million barrels of oil equal a day in 2030 with the capability to extend manufacturing out to 2035”. The corporate added that it has made 10 exploration discoveries throughout its international portfolio within the first half of 2025, with two of these discoveries in Egypt. These comprise the Fayoum-5 fuel discovery effectively and the El King-2 exploration effectively, each a part of the West Nile Delta basin, BP identified within the assertion.
In a press release posted on its web site on Monday, Valaris Restricted confirmed that it had been awarded a five-well contract with BP Exploration Delta Restricted for drillship VALARIS DS-12 in Egypt.
Valaris famous in that assertion that the contract is anticipated to start within the second quarter of 2026 and added that it has an estimated period of 350 days. The estimated whole contract worth, inclusive of a mobilization charge, is roughly $140 million, in accordance with Valaris, which mentioned the contract additionally contains three choice wells.
“We’re happy that DS-12 will return to Egypt with BP, constructing on our profitable exploration marketing campaign collectively,” President and Chief Govt Officer Anton Dibowitz mentioned within the Valaris assertion.
“With this award, we proceed to execute our business technique, having now contracted all 4 drillships which have near-term availability. Trying forward, we count on to safe further engaging work for our high-specification drillships,” Dibowitz added.
In response to a specification sheet obtainable on Valaris’ web site, the DS-12 drillship has a rated most water depth of 12,000 toes and a most drilling depth of 40,000 toes. It additionally has lodging house for 200 individuals, the sheet highlighted.
In a press release posted on its web site in February, BP introduced a “basically reset technique”. This technique will see BP develop its upstream oil and fuel enterprise, focus its downstream enterprise, and make investments with growing self-discipline into the transition, the corporate famous in that assertion.
To contact the creator, e mail andreas.exarheas@rigzone.com
