Norwegian offshore drilling newcomer Borr Drilling and US offshore giant Schlumberger have signed an agreement to work together to offer integrated, performance-based drilling contracts in the offshore jackup market.
The agreement will see the pair leverage on Schlumberger’s global foot print and technical expertise to utilise Borr Drilling’s jackup fleet.
Simon Johnson, CEO of Borr Drilling, commented, “The collaboration with Schlumberger is a key enabler to successfully execute our strategy and deliver a truly differentiated offering to our
customers, using innovative business models.”
Borr Drilling was formed in December 2016, acquiring a pair of Hercules Offshore jackups. In March 2017, it announced the acquisition of Transocean’s entire fleet of 15 jackup rigs and just a week later it was reported that Schlumberger had taken a 20% stake in Borr through a $220m investment. Borr then listed on Oslo Bors in August.
The two companies said they will also explore opportunities to work together in training, technology projects and performance optimization.