US-listed offshore drilling contractor Valaris has secured a series of contract awards and extensions in the UK North Sea, including a new offshore wind support deal with GE Vernova. The latest commitments add more than $57m to the company’s contract backlog, which now stands at around $4.5bn as of October 23, 2025.
The Houston-based driller said the Valaris 248 jackup rig will provide accommodation support for an offshore wind project under a 120-day contract with GE Vernova, expected to start in November 2025. The deal is valued at over $8m and includes six priced options with a total duration of 104 days.
Elsewhere, Shell has extended its use of the Valaris 121 and Valaris 122 jackups in the UK sector. The Valaris 121 secured a 194-day extension starting in February 2026, worth over $25m, while Valaris 122 picked up two 28-day extensions valued at more than $6m combined to continue providing accommodation support for the supermajor.
In addition, Valaris Norway has been awarded a 150-day contract extension with Ithaca Energy, commencing in August 2026, adding roughly $18m to the backlog.
The new work reinforces Valaris’ position as one of the most active rig operators in the North Sea, with growing crossover activity between traditional oil and gas and the offshore wind sector. The company said its current contract backlog excludes lump sum payments such as mobilisation fees and capital reimbursements.
