Keppel Offshore & Marine has confirmed the sale of five jack-up drilling rigs to Borr Drilling for around $475m.
Borr Drilling will pay a first instalment of $288m within 20 business days of the effective date of the signing of the master agreement.
The remaining amounts are payable within five years from the respective delivery dates of each individual rig, on a seller’s credit with interest at market rates.
