PTTEP contracts two Borr jackups

Borr Drilling Ltd. has issued an update on its jackup drilling rig fleet.

PTTEP has awarded the Saga a one-year contract and the Gunnlod a six-month contract. Both are expected to start in September offshore Malaysia.

ExxonMobil has rescinded the notices of early termination and replaced with suspension notices for the Gerd and Groa. The rigs are currently warm stacked.

ROC Oil has rescinded the notice of termination and replaced it with a suspension notice for the Mist. Operations are scheduled to start around September or October 2020 offshore Malaysia.

Last month, the drilling contractor received a notice of termination from Centrica Storage for the Ran.

In addition, the Norve has received a letter of intent (LOI) for work that is expected to start in 1Q 2021 offshore West Africa. The Prospector 1 also received an LOI for use from October 2020 to January 2021 in the North Sea. Both rigs are currently warm stacked.

The recent awards will bring the total number of committed and contracted rigs up to 14.

According to Borr, there are now clear signs of increased activity levels, supported by an oil price of around $40/bbl.

Source: offshore-mag.com

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