Offshore drilling contractor Borr Drilling has singed new contract commitments for four of its premium jack-up rigs, which are set for deployment in the Middle East…
Offshore drilling contractor Borr Drilling has singed new contract commitments for four of its premium jack-up rigs, which are set for deployment in the Middle East, Southeast Asia and Mexico.
The new awards have a combined duration of approximately 1,300 days, including fixed priced options, and an estimated contract revenue of more than $129 million, according to Borr Drilling.
In the Middle East, the Arabia II jack-up rig, which is currently warm stacked, has secured a binding Letter of Award from an undisclosed customer.
The contract will start in September 2025 and is anticipated to have a firm duration of 500 days, plus a 200-day unpriced option. It also includes an additional performance-based incentive that rewards superior performance which this modern and technically capable rig can deliver.
In Southeast Asia, the rigs Thor and Gunnlod have received a binding Letter of Award from an undisclosed customer.
The Thor will undertake a well-based program with an estimated duration of 240 days starting in October 2025, while the Gunnlod is set to begin a 100-day program in September 2025, following the completion of its current contract.
Both agreements include one fixed priced optional well, each estimated at 80 days.
In Mexico, the
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