Shell and Consortium sign US$300 million drillship contract for Orca Project

Shell Brasil, representing the ORCA INVESTMENT CONSORTIUM with Ecopetrol (30%), TotalEnergies (20%) and PPSA (Pré-Sal Petróleo S/A), signed a long-term contract with Valaris Limited for deployment of drillship VALARIS DS-8 in offshore Brazil, valued at approximately US$300 million. Operations are expected to start in early 2027, with an initial term of about 800 days and extension options that could add up to one more year.