Oil and Gas World

Borr Drilling Limited – Announcement of New Contracts and Fleet Status Report

30 December 2022

Borr Drilling Limited (the “Company”) (NYSE and OSE: “BORR”) is pleased to announce it has been awarded new contracts for two of its premium jack-up drilling rigs. These awards increase the Company’s backlog by approximately 2,030 days, excluding optional periods.

The premium jack-up drilling rig “Frigg” has secured long-term contract from an undisclosed customer for work in the Middle East. This contract has a firm duration of 5 years plus options and is expected to commence in the third quarter of 2023 following the completion of the rig’s reactivation. The estimated contract value of the firm term, including mobilization fee, is $282 million.

Borr Drilling Limited Announces Fourth Quarter and Full Year 2022 Preliminary Results

Hamilton, Bermuda, February 16, 2023: Borr Drilling Limited (“Borr”, “Borr Drilling” or the “Company”) announces preliminary unaudited results for the three and twelve months ended December 31, 2022.

The rig “Frigg” is currently being prepared for work in the Middle East, where she will start operation as “Arabia III” in Q3 of this year.

Borr Drilling Limited (the “Company”) (NYSE and OSE: “BORR”) has today published an investor presentation enclosed to this release and on its website www.borrdrilling.com, in addition to providing the following contracting updates.

In August 2023, the premium jack-up rig “Arabia III” successfully commenced its 5 year firm contract with Aramco. The contract started ahead of schedule, continuing the track record of the “Arabia I” and “Arabia II” which started their respective 3 year contracts with Aramco in Q4 2022.