BORR DRILLING LIMITED HAS ACCEPTED A LETTER OF INTENT FROM BW ENERGY DUSSAFU B.V

HAMILTON, BERMUDA, SEPTEMBER 12, 2017 –

BORR DRILLING LIMITED (“BORR”) HAS ACCEPTED A LETTER OF INTENT FROM BW ENERGY DUSSAFU B.V. (“BWE”), A SUBSIDIARY OF BW OFFSHORE, FOR A DRILLING CAMPAIGN OFFSHORE GABON.

BORR’S PREMIUM, HIGH-SPECIFICATION JACK-UP NORVE WILL BE UTILISED TO DRILL AND COMPLETE TWO SUBSEA DEVELOPMENT WELLS.  THE PROGRAM HAS AN ESTIMATED DURATION OF 140-160 DAYS AND IS SCHEDULED TO COMMENCE IN JANUARY 2018.

THE NORVE, A BMC PACIFIC CLASS 400 JACK-UP CONSTRUCTED AT PPL SHIPYARD IN SINGAPORE,WAS ACQUIRED BY BORR IN MAY 2017.  THIS MODERN UNIT CAN OPERATE IN WATER DEPTHS UP TO 400FT AND HAS OFFLINE CAPABILITIES. THE NORVE IS EXPECTED TO MOBILISE FROM LIMBE, CAMEROON, IN DECEMBER 2017 TO ITS FIRST DRILLING LOCATION OFFSHORE GABON.

SIMON JOHNSON, BORR CEO COMMENTED, “WE ARE DELIGHTED TO RECEIVE THIS LETTER OF INTENT  FROM BW ENERGY DUSSAFU B.V.  BORR HAS SECURED ITS SECOND COMMITMENT IN AS MANY MONTHS, UNDER CHALLENGING MARKET CONDITIONS.  THIS FIXTURE DEMONSTRATES OUR CUSTOMER’S CONFIDENCE IN BORR’S PREMIUM ASSETS AND HIGHLY CAPABLE ORGANISATION.  WE LOOK FORWARD TO FINALISING THIS CONTRACT AND WORKING WITH BWE TO DELIVER EXCELLENT OPERATIONAL PERFORMANCE AND HIGH-QUALITY WELLS.”