The rig company announces on Monday evening that it has secured new contracts for the jack-up rigs “Gerd” and “Thor”.
The financier Tor Olav Trøim started Borr Drilling in 2016, and the following year the company bought rigs from Transocean for 1.35 billion dollars and went on the Oslo Stock Exchange. Photo: DAMPPublished:
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The contracts for the Tor Olav Trøim company have a value of USD 47.7 million and USD 25.1 million respectively, corresponding to a total of just under NOK 740 million, it appears.
The contract for “Gerd” is for 270 days fixed, with an option for a further 60 days from an unnamed customer. The “Thor” contract is for 151 days from an unnamed customer.
The former is for work in the Middle East, while the latter is in Southeast Asia. Work on both rigs is expected to start in December this year.
The rigging industry is moving in earnest again after several years of crises, and received a strong boost last year helped by fleet cuts and rising demand, which has given a boost to utilization and day rates.
Analysts have also stated that they expect an upswing for the rigging industry in the coming years.
2023-07-31 20:22:45
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