Borr Jack-Up Rig Heading To West Africa

Borr Jack-Up Rig Heading To West Africa
Borr Drilling has agreed on a deal for one of its jack-up drilling rigs.

Offshore drilling contractor Borr Drilling has agreed on a deal for one of its jack-up drilling rigs set to work for an undisclosed operator in West Africa.

Borr Drilling said that it secured a binding letter of award (LOA) for the premium jack-up rig Prospector 5 with an undisclosed operator.

According to the company, the drilling operations will be carried out in West Africa under a deal that entails a six-well firm program, which is expected to start during the fourth quarter of 2022.

Borr expects the LOI to convert into a contract shortly. It will have an estimated duration of fourteen months plus options and will be worth around $68.9 million, excluding options.

According to the most recent fleet status report provided by the offshore driller, the Prospector 5 rig was expected to finish its contract with Dana Petroleum in June 2022. The rig was hired for operations in the Netherlands from April 2022 after it completed its previous drilling program with CNOOC in the UK in December 2021.

As for the rig itself, the 2014-built Prospector 5 rig is of a Friede & Goldman JU2000E design, and it was constructed at Shanghai Waigaoqiao Shipbuilding in China. The rig can accommodate up to 140 people.

Borr Drilling won several deals for its fleet of rigs recently with the latest being with Mubadala Petroleum for work in Thailand.

The offshore drilling contractor is also working on selling off some of its rigs and Borr agreed to sell three of its jack-up rigs at the end of June 2022. The rigs are currently being constructed by Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine.

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