October 2, 2020 – Hamilton, Bermuda
Borr Drilling Limited (the “Company”) (NYSE: BORR, OSE: BDRILL) is pleased to confirm the commencement of three previously announced contracts in Malaysia for the premium Jack Up drilling rigs Gunnlod and Saga with PTTEP and Mist with Roc Oil. The units started work during September in line with the original schedule. With the added complexity of COVID-19, our operational team, with support of our partners in Asia, has diligently performed these activations to the highest standard.
We will also start operations of another two premium jack-ups, the Prospector 1 and the Prospector 5, in the North Sea in the fourth quarter of 2020. The Prospector 1 is the first rig in our fleet that has been fitted with a Selective Catalytic Reduction (“SCR”) System which is expected to reduce the emissions of nitrogen oxide, carbon oxide and hydrocarbon by 90-95%. In addition, the system is fitted with filters that is expected to reduce particle matter emission by over 85%. The introduction of this technology allows us to contribute to a lower emission society.
“The commencement of operations of three rigs in Asia and two more to follow in the North Sea is an outstanding achievement, considering the current challenging environment and is a reflection of the professionalism and dedication of our teams.” says Patrick Schorn, CEO of Borr Drilling, in a comment.
Questions should be directed to:
Magnus Vaaler, VP Investor relations and Treasury, +47 22 48 30 00
Forward looking statements:
This press release includes forward looking statements, which do not reflect historical facts and may be identified by words such as “expected” and “will” and similar expressions and include statements relating to the start of operations of two rigs, the expected reduction of emissions and other non-historical matters. Such forward-looking statements are subject to risks, uncertainties and other factors could cause actual events to differ materially from the expectations expressed or implied by the forward-looking statements included herein and other factors described in the section entitled “Risk Factors” in our filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date of this release. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.