Borr Drilling Limited is restarting multiple rigs in the Middle East and adding fresh contract coverage in Southeast Asia as utilisation tightens across its fleet, according to Borr Drilling Limited.
The Arabia III has resumed offshore Saudi Arabia, while restart notices for Groa in Qatar and Arabia II in the UAE indicate April reactivations.
The Forseti, operated under bareboat charter, is also being prepared to return to operations in Qatar, bringing the company’s regional fleet close to full reactivation.
In the Gulf of America, the Odin is scheduled to begin operations in April following maintenance-related delays ahead of its contract with Cantium.
In Southeast Asia, the Skald has secured a binding letter of award from an undisclosed operator for a six-month campaign expected to start in the second quarter of 2026.
Contract coverage for full-year 2026 stands at 70% at an average dayrate of approximately $134,000, with 78% coverage in the first half and 62% in the second half, leaving additional capacity open for further contracting.
Chief executive Bruno Morand said the company had managed operational disruption in the Middle East while maintaining contracting momentum, adding that customer engagement is increasingly focused on accelerating awards and advancing drilling programmes.
Borr Drilling Limited is a Bermuda-incorporated offshore drilling contractor founded in 2016, specialising in the ownership and operation of modern high-specification jack-up rigs deployed in shallow-water oil and gas developments worldwide.
Cantium is an independent offshore oil and gas company engaged in exploration and production activities, with a focus on development drilling programmes in the US Gulf region.
