Oil and Gas World

Borr Drilling Limited – Announcement of new contract

Borr Drilling Limited (the “Company”) (NYSE and OSE: “BORR”) is pleased to announce that its premium jack-up rig “Hild” has been awarded a contract from an undisclosed customer for work in Latin America. The contract duration covers a firm term of 725 days and is expected to commence in Q3 2023, following the conclusion of the rig’s ongoing activation. The estimated contract value is US$123 million, including mobilization and demobilization fees.

Following this award, all of the Company’s 22 delivered units are now contracted or committed, with no open availability until late Q3 2023. Amidst an improving market, the Company remains optimistic about recontracting opportunities for its premium fleet.

Hamilton, Bermuda

10 April 2023

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, our premium jack-up rig “Hild” completed its transit to Mexico and is undergoing final preparations ahead of its maiden contract with Fieldwood. Currently our premium jack-up rig “Ran” is on contract with the same customer. “Hild” is expected to commence its contract in mid-October. Concurrently, “Ran” will be mobilized to its subsequent contract with Total in Mexico, expected to commence in the second half of October 2023.