Borr Drilling Limited said that it has been issued a binding letter of award (LOA) for the Saga jack-up drilling rig from an undisclosed energy upstream operator in Southeast Asia.

According to the Bermuda-based drilling contractor, the program for the Saga jack-up drilling rig is likely to begin in Q4 2022. This will be in direct continuation of the current contract and will be for a duration of four years.

The extended contract comes with options. It will cover a one-well drilling program with an expected duration of 45 days.

Borr Drilling said that following the LOA, its contracted fleet has increased to 20 drilling rigs out of a total of 23 rigs that were delivered.

  Bermuda, Borr Drilling, Oil and gas industry news, Oil and gas news, Saga drilling rig, Southeast Asia