Seatrium has delivered its fifth newbuild jackup rig Var to Borr Drilling ahead of its timeline.

Seatrium has delivered its fifth newbuild jackup rig Var to Borr Drilling, nearly one year ahead of schedule. This early delivery highlights the group’s consistent ability to execute major projects safely, on time and within budget.

The successful delivery of Var marks the completion of the latest series of five B Class jackup rigs that Seatrium has built for Borr Drilling. The first three rigs, novated by Borr Drilling to ADNOC Drilling, were delivered in 2022 and 2023. More recently, Seatrium delivered the fourth rig to Borr Drilling in August 2024.

Var is a KFELS Super B Class jackup rig, designed to operate in water depths of up to 400 feet and drill down to depths of up to 35,000 feet. This versatile rig is capable of drilling deep wells both vertically and horizontally. Var is equipped with a fully automated high-capacity rack and pinion jacking system, and its cantilever structure has a maximum combined load of 3,700 kips, with capacity to accommodate full amenities for up to 150 persons.

Built at Seatrium’s Pioneer Yard in Singapore, the world-class KFELS Super B Class jackup rig design meets the needs of a diverse range of customers, from small and independent oil companies to major multinational energy corporations.

William Gu, executive vice president of Seatrium Energy (International), says: "We are proud to announce the successful completion of Var, the fifth and final newbuild rig for Borr Drilling, delivered ahead of schedule, within budget and with a commendable safety record. This achievement underscores the effectiveness of Seatrium’s series-build strategy and reinforces our proven track record in delivering high-quality offshore solutions. Our One Seatrium Delivery Model enables us to integrate teams across all regions, optimise resources, and leverage advanced technologies, allowing us to provide exceptional offshore solutions with our proprietary designs."

Shares in Seatrium closed at $1.86 on Nov 15.