Borr Drilling's Backlog Increased by 421 Days with New Jack-up Rig Deals

Tuesday, August 1, 2023

Jack-up drilling rig contractor Borr Drilling said Monday it had secured two letters of award ("LOA") for its premium jack-up drilling rigs "Gerd" and "Thor."

These awards increase the company's firm backlog by approximately 421 days, excluding optional periods.

The premium jack-up drilling rig "Gerd" (ex-PERISAI PACIFIC 102) has secured a binding LOA from an undisclosed customer for work in the Middle East. 

The contract for the PPL Pacific Class 400 design jack-up rig will cover a firm scope of 270 days, and one unpriced optional scope of 60 days. The firm scope has an estimated contract value of $47.7 million, including mobilization and demobilization. 

The "Gerd" concludes its current contract with Addax in Cameroon in Q3 2023, following Addax's decision not to proceed with certain optional wells previously exercised. 

The rig will then undergo mobilization, statutory surveys, and recertification ahead of its new commitment, which is expected to start in December 2023, Borr Drilling said.

The premium jack-up drilling rig "Thor" has secured a binding LOA from an undisclosed customer for work in Southeast Asia. 

This contract will cover a firm scope of two wells with an estimated duration of 151 days and a contract value of $25.1 million, including mobilization and demobilization. 

This contract is expected to start in December 2023, in direct continuation of the rig's ongoing contact. According to Borr Drilling's May 2023 fleet status report, Thor is currently under contract with CPOC (Carigali-PTTEPI Operating Company), operating in Malaysia-Thailand Joint Development Area

Categories: Middle East Drilling Industry News Activity Asia Drilling Rigs

Related Stories

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Woodside Agrees Long-Term LNG Supply with Petronas Unit

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

CNOOC Puts Into Production New Oil Field in South China Sea

Hanwha Ocean Marks Entry into Deepwater Drilling Market with First Drillship

Eneos Scoops Jack-Up Drilling Contract Offshore Vietnam

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Jadestone Submits Field Development Plan for Assets Off Vietnam

Shell Hires Noble’s Drillship for Work in Southeast Asia

ADNOC Signs 15-Year LNG Supply Deal with Osaka Gas for Ruwais Project

Current News

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Woodside Agrees Long-Term LNG Supply with Petronas Unit

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Yinson Production Closes $1B Investment to Drive Further Growth

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

Wood JV Gets EPC Job for Shell off Brunei

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com