Offshore drilling contractor Borr Drilling has secured a contract for its Norve jack-up rig for drilling operations in West Africa.
The work, with a repeat customer whose name was not disclosed, is in direct continuation of the Marathon Oil contract and is estimated to begin in third quarter of 2025.
The contract is for five wells firm, with an anticipated duration of 320 days, plus up to five optional wells at mutually agreed prices.
This commitment adds an additional $58 million in contract revenue backlog, excluding options, mobilization and demobilization compensation.
Built in 2011 at the PPL shipyard in Singapore, Norve jack-up rig is capable of operating in water depths of up to 400 ft, with a maximum drilling depth of 30,000 ft. The rig is of PPL Pacific Class 400 design.
The rig is currently operating for BW Energy in Gabon, under a long-term contract which started in 2022 and is scheduled to end in February 2025.
After that, the rig will be mobilized for work with Marathon Oil in Equatorial Guinea under a contract that expires in June 2025.
