Feb. 4 (PN) The Valaris DS-17 drillship has arrived in Rio de Janeiro to begin executing a new contract with Equinor in Brazil. The unit was contracted in 2024 for the exploration program of the Raia field in the Campos Basin. A total of six wells will be drilled.
The agreement was signed after the Norwegian oil company presented, in September 2023, the declaration of commerciality for Raia. The drilling rig will be out of service for 25 days to undergo upgrades required by Equinor.
Based on the initial estimated duration of 852 days, the agreement includes a waiting period of 180 days, followed by a drilling program of 672 days. The total contract value is estimated at US$498 million, which includes a downtime period, mobilization, modifications, and integrated services.
Raia is one of the most significant natural gas projects under development in Brazil. Located approximately 200 km off the coast, at depths of up to 2,900 meters, it contains recoverable reserves of natural gas and oil/condensate exceeding 1 billion barrels of oil equivalent. The development includes a floating production, storage and offloading (FPSO) vessel with a capacity of 126,000 barrels of oil per day and a pipeline with the capacity to transport up to 16 million cubic meters of natural gas per day. Production at Raia is scheduled to begin in 2028.
Brazil Energy Insight 
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