| Work Detail |
The Oslo and New York-listed offshore driller Borr Drilling has won a new contract for one of its premium jackup rigs in West Africa. The new deal for the 2011-built Norve rig was awarded by oil and gas player Vaalco Energy. The company hired the rig for the drilling of multiple development wells and appraisal and exploration wells, as well as performing workovers, with options to drill additional wells. This work will be done in direct continuation of the contract with Marathon Oil and is estimated to begin in the 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 $58m in contract revenue backlog, excluding options, mobilisation and demobilisation compensation. “In Gabon, we continue to work with our joint owners at Etame on our shared goal of executing another successful drilling campaign designed to enhance production and add reserves. We have signed a contract with Borr that we believe allows us the flexibility to optimize our drilling and workover plans offshore Gabon,” said George Maxwell, Vaalco’s CEO. The Norve rig is currently working for BW Energy in Gabon. It started its contract with the company back in December 2022 and is supposed to wrap up its deal in February 2025. The deal with Marathon Oil is set to start in February 2025 and end in June next year. |
