Valaris’ (NYSE: VAL) new senior vice president and chief commercial officer (COO) has officially taken up his role.
It was announced in late May that Matt Lyne, formerly of Seadrill, would take up the job at the offshore drilling contractor.
President and chief executive officer at Valaris, Anton Dibowitz said: “I am pleased to welcome Matt to the Valaris Executive Management Committee at an exciting time for our business.
“Valaris has significant operating leverage to the improving market, and Matt’s deep industry experience will be critical in helping us to exercise this leverage in a disciplined manner that generates meaningful returns for our shareholders.”
Mr Lyne previously served as chief commercial and strategy officer of Seadrill, where he held a number of senior marketing and commercial roles for more than 12 years.
Prior to this, he served in a number of senior operational and functional roles with Transocean, and has over 20 years of offshore drilling experience in various locations.
Mr Dibowitz added: “With Matt in position, Christophe Raimbault will commence his new role as Vice President – Sustainability and New Energy. Christophe will drive further momentum behind our commitment to reduce emissions from our operations and partner with our customers to support their ESG efforts, as well as identify and progress opportunities within the new energy arena.”
Oil giant Shell recently announced it had handed Valaris $60 million (£51.8m) to continue using one of its jack-ups in the North Sea.
The four-well contract extension for the Valaris 122 heavy-duty harsh environment rig is due to run for around 500 days.
It will kick in as soon as the existing program with the supermajor finishes.