Valaris Ltd, the Bermudian-based offshore drilling services company, has new contracts and contract extensions, with associated contract backlog of approximately $1.14 billion.

Contract backlog excludes lump-sum payments such as mobilisation fees and capital reimbursements.

President and chief executive Anton Dibowitz said: “We are delighted to announce these contract awards and extensions, which add well over $1 billion of contract backlog at attractive economics, providing further evidence of the positive outlook for Valaris.

“These awards include two multiyear drill ship contracts and several jack-up contracts across the North Sea, Trinidad and Australia.”

He added: “The contract awards for Valaris DS-4 and Valaris DS-16 are great examples of how we are executing on the operating leverage inherent in our business, with day rates transitioning from legacy rates in the low $200,000s to market rates.

“We are also beginning to see early signs of a recovery in the North Sea jack-up market from 2025 as evidenced by several awards at improving day rates.”

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DHT Holdings Inc, the Bermudian-based crude oil tanker company, has provided a business update covering the fourth quarter of 2023 and the first quarter of this year.

For the fourth quarter, the company estimates time charter equivalent earnings for its fleet at $42,800 per day, comprising $39,600 per day for its very large crude carriers on time-charter and $43,600 per day for the company’s VLCCs operating in the spot market.

To date in the first quarter, DHT said, 50 per cent of the available VLCC spot days have been booked at an average rate of $56,300 per day on a discharge-to-discharge basis, and 61 per cent of the available VLCC days, spot and time-charter days combined, have been booked at an average rate of $48,900 per day.

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A floating liquid natural gas carrier owned and operated by Bermudian-based Golar LNG Ltd has completed its voyage from Singapore’s Seatrium Shipyard to BP’s purpose-built Greater Tortue Ahmeyim hub offshore Mauritania and Senegal.

FLNG Gimi was converted from a liquefied natural gas tanker into an FLNG facility.

The voyage included refuelling stops in Mauritius, before rounding the Cape of Good Hope, and in Namibia before its arrival offshore.

Golar, the owner of tankers that haul liquefied natural gas, has notified BP of the vessel’s arrival.

After completion of all preparatory activities, FLNG Gimi will be manoeuvred to her berth at the hub and for her subsequent connection to the feed gas pipeline.

Golar and BP have agreed that FLNG Gimi will proceed to moor offshore Tenerife while awaiting completion of the necessary preparatory activities.

Karl-Fredrik Staubo, company chief executive, said: “Golar is pleased to see that the FLNG Gimi has arrived at the GTA field offshore Mauritania and Senegal, her home for the next 20 years.

“We are excited to integrate the Golar FLNG facility with the GTA hub, and starting the next phase of our long-term relationship with BP and the GTA partners into LNG production.”

Rahman Rahmanov, BP’s vice-president projects for Mauritania and Senegal, added: “This is a major step forward for overall delivery of the GTA1 project in Mauritania and Senegal. Safely achieving this milestone is a result of great teamwork.”