Bermuda-based offshore drilling contractor Borr Drilling has secured contract extensions for three premium jack-up rigs from its fleet operating in Mexican waters.
Two rigs, Galar and Gersemi , have won two-year firm contract extensions each, set to start in direct continuation of their existing contracts. The extensions also include two one-year unpriced options and improved commercial and payment terms.
Additionally, the contract for the rig Njord has been extended through April 2026. All three rigs have been working with Pemex since 2019 .
According to the offshore contractor, the contract value of the extensions is approximately $213 million, excluding options. The company said it remains in active discussions for long-term extensions for contracts that expire in Q2 2026.
With a maximum drilling depth of 30,000 feet (9.14 kilometers), the 2017-built Galar, the 2018-built Garsemi and the 2019-built Njord are of PPL Pacific Class 400 design and can operate in water depths of 400 feet, or around 0.12 kilometers). They can accommodate 150 people.
This comes on the heels of Borr’s decision to terminate two drilling contracts in Mexico, for jack-ups Odin and Hild. This is said to follow the recent implementation of international sanctions, which Borr explained are affecting a counterparty.