Valaris rolls out DS-12 drillship for Egypt gas operations  

Valaris, a leading offshore drilling company, has moved its DS-12 drillship to Egypt, where it is set to begin a multi-well gas campaign in the Mediterranean. The program covers four wells and is expected to support the country’s push to raise output and secure its role in the regional gas market. 

The drillship will start with one production well and one exploratory well for BP. It will then move on to two additional exploratory wells for Arcius Energy, a joint venture between BP and ADNOC. The sequence reflects a mix of near-term output goals and longer-term exploration.

Egypt steps up drilling plans 

The campaign comes as Egypt works to draw more investment into its energy sector. Officials at the Ministry of Petroleum and Mineral Resources have rolled out incentives aimed at speeding up exploration and development, moves that have drawn renewed interest from global operators. 

For 2026, the ministry and its partners plan to drill more than 100 exploratory wells, alongside development work in existing fields. The goal is straightforward: lift production, make better use of known reserves and open the door to new finds. 

Industry executives say steady drilling activity will be key to maintaining output and meeting domestic demand. It also gives Egypt a stronger footing as gas demand in the wider Mediterranean region holds firm.

Industry outlook and company position 

Valaris, one of the world’s largest offshore drilling contractors, With 100 years of experience and a commitment to efficiency, capability and ingenuity, operates a global fleet that includes drillships, semisubmersibles and jackups capable of working across water depths.

The company traces its roots to a merger of established offshore drillers and now runs operations across multiple regions. 

Chief Executive Anton Dibowitz, who took the role in late 2021, said recent results reflect steady operations. The company reported quarterly revenue of $537 million, with revenue efficiency of 98%. Full-year efficiency stood at 96%, marking five straight years at or above that level. 

Net income reached $717 million, supported by a tax benefit, while adjusted EBITDA came in at $97 million. One of its rigs, VALARIS 115, was named Shell’s 2025 Jackup Rig of the Year. 

For Egypt, the DS-12 campaign is part of a broader push to revive drilling activity and secure new gas supplies. For Valaris, it adds to a growing list of contracts tied to offshore demand in key energy markets.