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July 2, 2021

US firm wins Qatar offshore rig contract

North Oil Company in Qatar has awarded Valaris with a contract for deploying the Valaris JU-110 rig at the offshore Al-Shaheen oil field.

By MEED   

Qatar’s North Oil Company has awarded US offshore oil and gas drilling contractor Valaris a contract for chartering one of its jack-up drilling rigs for deployment at the offshore Al-Shaheen oil field.

The contract will see North Oil Company deploy the Valaris JU-110 rig for three years starting from the fourth quarter of 2021.

The Valaris JU-110 rig is a high-spec KFELS MOD V – Super B Class jack-up that is capable of sustaining high-pressure high temperatures (HPHT).

The rig has been in service since 2015 and can operate in water depths ranging from 400ft to 35,000ft.

North Oil Company’s rig contract award to Valaris closely follows the contract extension awarded to Japan Drilling Company to charter the Hakuryu-10 offshore drilling rig at the Al-Shaheen field.

North Oil Company, a joint venture (JV)  in which Qatar Petroleum (QP) holds 70% and France’s TotalEnergies 30%, operates the Al-Shaheen offshore field.

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The field is Qatar’s largest with facilities including 33 platforms and more than 300 wells.

North Oil Company took over the operatorship of the field in mid-2017 from Denmark’s Maersk Oil, which had operated the field since 1992.

In early 2018, Total, which recently rebranded as TotalEnergies, acquired Maersk Oil.

This article is published by MEED, the world’s leading source of business intelligence about the Middle East. MEED provides exclusive news, data and analysis on the Middle East every day. For access to MEED’s Middle East business intelligence, subscribe here.

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