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Borr Drilling adds to rig fleet backlog with several fresh deals

Norwegian jackup rig owner Borr Drilling has secured new contracts and extensions for five of its drilling rigs, increasing the company’s backlog by approximately 2,530 days, excluding options.

The New York and Oslo listed firm has won a contract with an undisclosed operator in Southeast Asia for the 2018-built Gunnlod. The contract should commence in direct continuation of its current contract. The work will cover 11 wells with an anticipated duration of 186 days plus options.

Also in Southeast Asia, the 2018-built rig Saga has been booked by an undisclosed operator for a one-well campaign with an anticipated duration of 45 days.

Meanwhile, the 2013-built Mist had options exercised by PTTEP for a total duration of approximately three and a half months, and it is now expected to remain contracted until Q4 2022.

Furthermore, Borr Drilling has secured long-term contracts in the Middle East with an unnamed operator for two of its rigs. The contracts have a firm duration of three years plus options each and are expected to commence in the second half of 2022.

The new awards increase Borr’s contracted fleet to 20 rigs out of a total of 23 delivered.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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