Borr Drilling scores its first jack-up rig contract

Borr Drilling, a recently established offshore drilling company, has received a letter of commitment from Total for the use of one of its jack-up rigs in Nigeria.

According to the driller, which recently bought Transocean’s entire jack-up rig fleet, the company has, together with its Nigerian partner Valiant Energy Services West Africa, received the commitment letter from Total in Nigeria, for employment of the Frigg jack-up drilling rig.

The commitment is for a firm one year contract, with an option to extend. The contract is expected to start in the third quarter of 2017.

As for the rig in question, the Frigg is a Kfels Super A class, high-spec jack-up which entered into service in 2013. The rig can operate in water depths of up to 400 feet, with a maximum drilling depth of 35000 feet.

Worth noting, the Frigg was not a part of the Transocean deal. The rig was acquired earlier when Borr bought two jack-ups from Hercules Offshore, a bankrupt U.S. offshore driller.

Rune Magnus Lundetræ, Borr CEO, said:”We are proud to have secured our first commitment with a supermajor. We have during our first 180 days of operation recruited a highly competent organization, built a solid management system and world class operational systems and procedures. We are pleased that these efforts are now recognized by Total E&P Nigeria and we are looking forward to establish our presence and the leading operator of high specification jack-ups in the years to come.”

Borr Drilling, which owns 12 jack-ups and five more under construction, did not provide the financial details of the deal.

The company was formed last year with the ambition of acquiring and operating drilling assets in order to take advantage of opportunities in a rapidly changing oil and gas industry. The company’s management includes former Seadrill CFO, Rune Magnus Lundetræ, who is now Borr CEO. The company’s COO, Svend Anton Maier, also worked for Seadrill in a period from 2007 until 2016.

Offshore Energy Today Staff

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