Borr Drilling Wins Premium Jack-up Deal

The international drilling contractor to the oil and gas industry Borr Drilling has been awarded an additional jackup rig contract by Mexico’s Petróleos Mexicanos (Pemex).

Borr currently has two jackup rigs about to commence work with Pemex, who have now contracted a third rig.

The first rig, the "Grid", has arrived on site and is currently commencing its contract, while the second rig, the "Gersemi", is expected to commence shortly thereafter.

The Bermuda-based company is also pleased to announce that it has received an award from Pemex for an additional contract, which is the third contract under "Cluster 2" for the Company.

The new contract is expected to be based on the same economics and structure as the first two contracts and secures the employment of a third modern jack-up drilling rig with expected commencement in the fourth quarter 2019 for an anticipated duration to be around 18 months.

The newly awarded contract is the company's fourth contract award in Mexico in less than nine months and is a result of the company's strong focus on the region.