UK-headquartered offshore drilling contractor Borr Drilling has won a new long-term, multi-well assignment for one of its jack-up rigs with an undisclosed operator off the coast of West Africa.
Borr Drilling has secured a new contract commitment for its Norve premium jack-up rig with an unnamed operator it describes as a repeat customer in West Africa.
According to the rig owner, this work is in direct continuation of the Marathon Oil contract. The new job is estimated to begin in Q3 2025.
The rig’s new contract is for five wells, with an anticipated duration of 320 days, plus up to five optional wells at mutually agreed prices.
Borr Drilling underlines that this commitment will add an additional $58 million to the contract revenue backlog, excluding options, mobilization, and demobilization compensation.
The 2011-built Norve jack-up rig, which was constructed at the PPL shipyard in Singapore, is capable of operating in water depths of up to 400 ft.
With a maximum drilling depth of 30,000 feet, the rig is of PPL Pacific Class 400 design and can accommodate 150 people.
Borr Drilling, which disclosed a backlog of $1.62 billion for Q3 2024, claims the global demand for offshore drilling services, including jack-up rigs, remains strong despite uncertainty.
The rig owner expanded its fleet last month after Seatrium delivered its final ordered newbuild jack-up rig almost a year before it was due.