Borr Drilling has sold 14 old jack-up rigs to a “non-drilling company” as part of its rationalisa- tion programme following the Paragon Offshore takeover. The rigs will be delivered to the new unnamed owner over the next 30 days and the disposal is expected to contribute up to US $16m in profit to Borr’s Q2 2018 results, Borr said. The company added that 13 of the rigs will be demobilized as drilling rigs and will be targeted for mobile offshore production unit (MOPU) orientated work. The remaining rig is allocated to develop- ment work for a specific life of field project. None of the rigs will re-enter the international jack-up drilling market once the deal is completed.
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