Borr Drilling debuts with Total jackup deal

Borr Drilling debuts with Total jackup deal

Newly-formed Borr Drilling has announced its first new contract having received a letter of commitment, in conjunction with local partner Valiant Energy Services, for jackup rig Frigg from Total E&P Nigeria.

Total is taking the 2013-built rig for a one-year period, with further options available, commencing in the third quarter of 2017.

Rune Magnus Lundetræ, CEO of Borr Drilling, commented: “We are proud to have secured our first commitment with a supermajor. We have during our first 180 days of operation recruited a highly competent organisation, built a solid management system and world class operational systems and procedures. We are pleased that these efforts are now recognised by Total E&P Nigeria and we are looking forward to establishing our presence as the leading operator of high specification jack ups in the years to come.”

Frigg is one of two premium jackups acquired by Borr in January this year from US-based Hercules Offshore, which has been selling off all its assets under a bankruptcy protection plan.

Borr also acquired the entire fleet of 15 jackups owned by Transocean in a $1.35bn deal announced in March.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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