ARO Drilling has awarded Valaris Limited (NYSE: VAL) a 200-day extension to its bareboat charter for a heavy-duty ultra-harsh environment jack-up rig, Valaris reported Tuesday.
The award prolongs the existing charter for the VALARIS JU-250 (Bob Palmer) rig and keeps the drilling unit under contract through the end of 2021, Valaris noted in a written statement emailed to Rigzone. Valaris added that ARO’s contract with Saudi Aramco has been extended for the same period.
ARO is a 50/50 joint venture offshore drilling contractor owned by Saudi Aramco and Valaris.
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