Offshore Sector Gains Momentum: Borr Drilling Secures 2,100 Days of Work, TechnipFMC Wins Angola Subsea Contract

## Offshore Sector Gains Momentum with New Contracts The offshore oil and gas sector is showing renewed vigour this week, with two significant contract announcements underscoring sustained operator demand for drilling and subsea services. ### Borr Drilling Adds 2,100 Days of Backlog Tor Olav Trøim-backed jackup specialist Borr Drilling has secured new contracts and extensions across seven of its rigs, adding approximately 2,100 days of work to its backlog, according to Splash247. Among the awards, the 2013-built jackup *Idun* received two separate contracts in Southeast Asia. The rig secured a one-well contract with an undisclosed operator in Vietnam, which commenced last month, alongside an additional award in the region. The breadth of the contracting activity — spanning multiple units and geographies — reflects the tightening jackup market that has characterised the sector over the past 18 months. Borr Drilling has been one of the more aggressive players in rebuilding its contract coverage following the offshore downturn, and this latest round of awards reinforces the company's strategy of targeting high-specification, modern rigs in active drilling markets across Southeast Asia and beyond. ### TechnipFMC Wins Angola Subsea Award In a separate development, offshore engineering and contracting giant TechnipFMC has been awarded a contract by Azule Energy — the BP and Eni joint venture operating in Angola — to supply flexible flowlines and risers for the West Hub Tails project, an extension of the Agogo Integrated Development, Splash247 reports. Under the terms of the award, TechnipFMC will design and manufacture flexible flowlines, risers, and associated equipment for the project. The Agogo field, located in Block 15/06 in the Lower Congo Basin, has been a centrepiece of Angola's deepwater development programme, and the West Hub Tails extension signals continued operator commitment to maximising recovery from existing infrastructure. The contract adds to TechnipFMC's growing subsea order book and highlights Angola's enduring importance as a deepwater frontier, with Azule Energy — formed in 2022 through the merger of BP Angola and Eni Angola — emerging as one of the country's most active upstream investors. ### Broader Market Context Together, these awards reflect a broader trend of sustained capital allocation toward offshore oil and gas, particularly in Southeast Asia and sub-Saharan Africa. With jackup day rates remaining firm and deepwater project sanctioning continuing at pace, service and contracting companies appear well-positioned heading into the second half of 2025.