HAMILTON, Bermuda, Aug. 6, 2019 /PRNewswire/ -- Reference is made to
Borr Drilling Limited's (NYSE: BORR, OSE: BDRILL) (the "Company")
previously disclosed information regarding its two contracts in
Mexico with Petróleos Mexicanos ("Pemex"), in what is referred to as
"Cluster 2", under an integrated services model. The first rig, the
"Grid", has arrived on site and is currently commencing its
contract, while the second rig, the "Gersemi", is expected to
commence shortly thereafter.
The Company is also pleased to announce that it has received an
award from Pemex for an additional contract, which is the third
contract under "Cluster 2" for the Company. The new contract is
expected to be based on the same economics and structure as the
first two contracts and secures the employment of a third modern
jack-up drilling rig with expected commencement in the fourth
quarter 2019 for an anticipated duration to be around 18
months.
The newly awarded contract is the Company's fourth contract
award in Mexico in less than nine
months and is a result of the Company's strong focus on the region.
The Company has established a robust regional office and operations
in the country, and is optimistic about future opportunities
arising from the continued strong demand seen in the region.
Questions should be directed to:
Svend Anton Maier: Chief
Executive Officer, Borr Drilling Management, +47 41427129
Rune Magnus Lundetræ: Chief Financial Officer, Borr Drilling
Management +47 90088411, rmlundetrae@borrdrilling.com
Forward looking statements
This announcement includes forward looking statements. Forward
looking statements are, typically, statements that do not reflect
historical facts and may be identified by words such as
"anticipate", "continue", "expect", "should", "will" and similar
expressions and include expectations regarding contract backlog and
contract terms, contracting and operation of our jack-up rigs and
contracting at favourable rates. The forward-looking statements in
this announcement are based upon various assumptions, many of which
are based, in turn, upon further assumptions. Although Borr
Drilling Limited believes that these assumptions are reasonable,
they are, by their nature, uncertain and subject to significant
known and unknown risks, contingencies and other factors which are
difficult or impossible to predict and which are beyond our
control. Such risks, uncertainties, contingencies and other factors
could cause actual events to differ materially from the
expectations expressed or implied by the forward-looking statements
included herein. In addition to the important factors and matters
discussed elsewhere in this report, important factors that, in our
view could cause actual results to differ materially from those
discussed in the forward looking statements are included in our
most recent annual report.
The information, opinions and forward-looking statements
contained in this announcement speak only as of the date hereof and
are subject to change without notice.
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SOURCE Borr Drilling Limited