Wednesday, 16 September 2026

Borr Drilling and Saipem have closed separate divestment deals in Mexico and Saudi Arabia while keeping access to key jackup rigs through existing customer contracts, Offshore Magazine reported.

Borr Drilling is transferring its 51% controlling stakes in two Mexican drilling joint ventures, collectively known as Perfomex, to its local partner, according to Offshore Magazine. Under the deal, Borr retains ownership of the Galar, Gersemi and Njord jackup rigs through bareboat charter arrangements. Njord is contracted through April 2028 with extension options, and Galar and Gersemi are contracted through May 2030.

Offshore Magazine noted that earlier in 2026 Borr acquired five premium jackup rigs in Mexico through its 50:50 BC Ventures joint venture with the same local partner, expanding its position in the country's shallow-water drilling market.

Saipem has closed the sale of its full shareholding in Saudi Arabian Saipem to ADES Saudi Ltd. Co., a subsidiary of ADES Holding. The transaction was first announced in June, per Offshore Magazine. Saudi Arabian Saipem operates three owned jackup rigs, Perro Negro 7, Perro Negro 8 and Perro Negro 10, alongside two leased jackups.

Saipem and ADES also signed a bareboat charter agreement letting Saipem continue using Perro Negro 10 for its current operations in Mexico, preserving contractual commitments to its clients.

Shanghai Electric has won the contract for Unit 3 of the Sarawak Samalaju Combined Cycle Gas Turbine Project in Malaysia.

The scope pairs an EPC contract for the gas-fired plant with a 25-year service agreement covering major equipment.

The manufacturer's heavy-duty gas turbine range centres on two models rated 300 MW and 78 MW. Fleet units under its long-term service and maintenance programs have run more than 1.3 million hours.

New units can be delivered from 2028. The company also said developers in Indonesia, Thailand, the Philippines and Vietnam have signalled interest in placing orders.