Shallow water drilling contractor Borr Drilling said Friday its jack-up drilling rig "Ran" had secured a Letter of Award from an unnamed client for work in Latin America.
The award will cover drilling two offshore wells, with an estimated duration of 200 days on a dry-hole case and up to 460 days on a
success case.
The work will start in October 2023 and has an estimated contract value, including mobilization and demobilization fees, of USD $30.4 million on a dry-hole case.
The Ran jack-up rig is currently on a contract with Wintershall in Mexico, which is expected to keep the rig committed until Q2 2023.
"The company remains in constructive discussion with other customers in the region for further work to cover the available time between these two programs," Borr Drilling said.
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