Borr Drilling Limited (BORR): Análisis PESTLE [Actualizado en enero de 2025]

En el mundo dinámico de la perforación offshore, Borr Drilling Limited navega por un complejo panorama de desafíos y oportunidades globales. Desde las tensiones geopolíticas hasta las innovaciones tecnológicas, el posicionamiento estratégico de la compañía depende de su capacidad para adaptarse a las condiciones del mercado en rápida evolución. Este análisis integral de la mano presenta la intrincada red de factores políticos, económicos, sociológicos, tecnológicos, legales y ambientales que dan forma al ecosistema operativo de Borr Drilling, ofreciendo una inmersión profunda en las influencias externas críticas que impulsan la estrategia comercial y el potencial futuro de la compañía.

Borr Drilling Limited (Borr) - Análisis de mortero: factores políticos

Regulaciones de perforación en alta mar impacto en las estrategias operativas

Borr Drilling Limited opera bajo complejos marcos regulatorios internacionales en múltiples jurisdicciones:

Región	Cuerpo regulador	Requisitos reglamentarios clave
Noruega	Dirección de Petróleo Noruego	Estándares de cumplimiento ambiental estrictos
Emiratos Árabes Unidos	Abu Dhabi National Oil Company	Requisitos de contenido local del 70% de la fuerza laboral
Brasil	Agencia Nacional de Petróleo	Protocolos de certificación de seguridad obligatoria

Tensiones geopolíticas que afectan los contratos de perforación

Las tensiones regionales de Medio Oriente y Mar del Norte afectan directamente las oportunidades de contrato de Borr Drilling:

• Sanciones de Irán que limitan las capacidades operativas en el Golfo Pérsico
• Conflicto de Rusia-Ucrania reduciendo las inversiones de perforación del Mar del Norte
• Las negociaciones geopolíticas de Arabia Saudita que influyen en los contratos de energía regional

Sanciones internacionales y políticas comerciales

El panorama actual de la política comercial presenta desafíos significativos:

Régimen de sanción	Impacto en la perforación de Borr	Restricción de ingresos estimada
Sanciones de EE. UU. Irán	Acceso al mercado restringido	Aproximadamente $ 42 millones potenciales de ingresos perdidos
Sanciones rusas de la UE	Zonas operativas limitadas	Reducción del contrato estimada de $ 35 millones

Incertidumbres de la política energética del gobierno

Las transiciones de energía renovable crean complejidades del mercado:

• El compromiso de Noruega con la reducción de emisiones del 55% para 2030
• Objetivo de viento en alta mar del Reino Unido de 50 GW para 2030
• Objetivo de la Unión Europea de 42.5% de energía renovable para 2030

Los entornos regulatorios políticos continúan dando forma significativamente al posicionamiento estratégico de Borr Drilling en los mercados internacionales.

Borr Drilling Limited (Borr) - Análisis de mortero: factores económicos

Precios del petróleo fluctuantes

Brent Crude Oil Price a partir de enero de 2024: $ 78.50 por barril. Los ingresos de Borr Drilling se correlacionan directamente con la volatilidad del precio del petróleo.

Año	Precio promedio del petróleo	Ingresos de perforación de Borr
2022	$100.42	$ 412.1 millones
2023	$81.80	$ 385.6 millones

Recuperación económica global

Indicadores de demanda de perforación en alta mar:

• Recuento global de plataformas: 1.412 plataformas activas en enero de 2024
• Tasa de utilización de la plataforma en alta mar: 72.3%
• Tarifas de día promedio para plataformas de arranque: $ 78,500

Inversión en perforación de aguas profundas

Región	Inversión de aguas profundas proyectadas (2024-2026)
América del norte	$ 24.3 mil millones
Oriente Medio	$ 15.7 mil millones
Europa	$ 8.6 mil millones

Volatilidad del tipo de cambio de divisas

Impacto en el tipo de cambio en los costos operativos de Borr Drilling:

• Tipo de cambio USD/NOK: 10.47 a partir de enero de 2024
• Tipo de cambio de USD/EUR: 0.92 a partir de enero de 2024
• Costos estimados de cobertura de divisas: $ 3.2 millones en 2023

Borr Drilling Limited (Borr) - Análisis de mortero: factores sociales

Desafíos de conciencia ambiental creciente

Según el Informe Global Energy Monitor 2023, las inversiones de perforación en alta mar disminuyeron en un 12,7% en comparación con 2022. Las encuestas de percepción pública indican que el 68% de los encuestados expresan preocupaciones sobre el impacto ambiental de la perforación en alta mar.

Año	Preocupación ambiental pública (%)	Reducción de la inversión de perforación en alta mar (%)
2022	58%	8.3%
2023	68%	12.7%

La demografía de la fuerza laboral cambia hacia profesionales más jóvenes e impulsados ​​por la tecnología

La composición de la fuerza laboral de Borr Drilling muestra que el 47% de los empleados tienen menos de 35 años. La tasa de adopción de tecnología dentro de la empresa alcanza el 82% para las soluciones digitales en el lugar de trabajo.

Grupo de edad	Porcentaje (%)
Sobre 35	47%
35-50	38%
Más de 50	15%

Aumentan las expectativas sociales para las prácticas corporativas sostenibles y responsables

Las inversiones de sostenibilidad de Borr Drilling alcanzaron los $ 24.3 millones en 2023, lo que representa el 3.6% del gasto operativo total. Los objetivos de reducción de emisiones de carbono se establecen en 22% para 2025.

La cultura de seguridad y el bienestar de los empleados se convierten en diferenciadores competitivos críticos

Métricas de seguridad en el lugar de trabajo para perforación Borr en 2023:

• Tasa de incidente total registrable (TRIR): 1.2 por 200,000 horas de trabajo
• Tasa de frecuencia de lesiones de tiempo perdida (LTIfr): 0.4
• Cobertura del Programa de Apoyo de Salud Mental de Empleados: 94%

Métrica de seguridad	Valor 2023
Trir	1.2
Ltifr	0.4
Apoyo de salud mental	94%

Borr Drilling Limited (Borr) - Análisis de mortero: factores tecnológicos

Las tecnologías digitales avanzadas mejoran la eficiencia de perforación y el monitoreo operativo

Borr Drilling Limited implementó plataformas de análisis de datos en tiempo real en su flota, con 17 plataformas de datos de alta especificación equipadas con sistemas de monitoreo digital avanzados a partir del cuarto trimestre de 2023.

Tipo de tecnología	Tasa de implementación	Mejora del rendimiento
Análisis de datos de perforación en tiempo real	82%	15.3% de eficiencia operativa
Monitoreo operativo remoto	76%	12.7% Reducción de costos
Sistemas de mantenimiento predictivo	68%	22.5% Reducción del tiempo de inactividad del equipo

La automatización y la integración de IA mejoran el rendimiento de la plataforma y la predicibilidad de mantenimiento

Borr Drilling invirtió $ 24.3 millones en IA y tecnologías de aprendizaje automático durante 2023, dirigidos a capacidades de perforación autónoma y estrategias de mantenimiento predictivo.

Aplicación de IA	Monto de la inversión	ROI esperado
Sistemas de perforación autónomos	$ 12.7 millones	18-24 meses
Mantenimiento predictivo ai	$ 11.6 millones	15-20 meses

La inversión en plataformas de perforación modernas de alta especificación aumenta la competitividad del mercado

A diciembre de 2023, la perforación Borr operaba 32 plataformas modernas de manejo, con una plataforma promedio de 6,2 años y las especificaciones tecnológicas cumplen con los estándares de la industria internacional.

Especificación de plataforma	Número de plataformas	Ventaja competitiva del mercado
Plataformas de manejo de alta especificación	32	Tasa de utilización del contrato del 95%
Integración de tecnología avanzada	28	15% de capacidad de precios premium

Tecnologías de ciberseguridad críticas para proteger datos e infraestructura operativos

La perforación Borr asignó $ 8.5 millones para la infraestructura de ciberseguridad y los sistemas de detección de amenazas en 2023, implementando protocolos de seguridad de múltiples capas en plataformas digitales.

Medida de ciberseguridad	Inversión	Cobertura de protección
Detección de amenazas avanzadas	$ 4.2 millones	99.8% de protección de infraestructura digital
Sistemas de comunicación cifrados	$ 2.9 millones	100% de seguridad de comunicación operativa
Plataformas de monitoreo continuo	$ 1.4 millones	Evaluación de amenazas en tiempo real 24/7

Borr Drilling Limited (Borr) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones internacionales de seguridad marítima y perforación

Borr Drilling Limited se adhiere a la resolución de la Organización Marítima Internacional (OMI) MEPC.259 (68) Regulaciones para la gestión del agua de lastre. La Compañía mantiene el cumplimiento de los requisitos del Código de Gestión de Seguridad Internacional (ISM).

Reglamentario	Estado de cumplimiento	Frecuencia de auditoría anual
Convención de la OMI Marpol	Totalmente cumplido	2 auditorías externas
ISO 9001: 2015 Gestión de calidad	Certificado	1 Auditoría de recertificación
OHSAS 18001 Normas de seguridad	Implementado	2 auditorías de vigilancia

Impacto en las leyes de protección del medio ambiente

Borr Drilling Limited incurrió en $ 3.2 millones en gastos de cumplimiento ambiental en 2023. La compañía opera 15 plataformas de perforación con tecnología ambiental mejorada para cumplir con requisitos regulatorios estrictos.

Regulación ambiental	Costo de cumplimiento	Objetivo de reducción de emisiones
Emisiones de gases de efecto invernadero	$ 1.5 millones	Reducción del 12% para 2025
Gestión de residuos	$850,000	Tasa de reciclaje del 95%
Protección del ecosistema marino	$850,000	Incidentes de contaminación marina cero

Acuerdos contractuales complejos

Borr Drilling Limited gestiona 22 contratos de perforación internacional activos con una cartera de contratos total valorado en $ 1.47 mil millones a partir del cuarto trimestre de 2023.

Estándares de salud, seguridad y medio ambiente de la fuerza laboral

La compañía mantiene un 0.85 tasa de incidente registrable total (TRIR), significativamente por debajo del promedio de la industria de 1.5.

Métrica de seguridad	2023 rendimiento	Punto de referencia de la industria
Tasa de incidentes total registrable	0.85	1.5
Frecuencia de lesiones en el tiempo perdido	0.22	0.50
Horas de entrenamiento de seguridad	52,000	N / A

Borr Drilling Limited (Borr) - Análisis de mortero: factores ambientales

Aumento de la presión para reducir la huella de carbono en las operaciones de perforación en alta mar

Según la Organización Internacional de Marítima (OMI), los buques de perforación en alta mar deben reducir las emisiones de gases de efecto invernadero en un 40% para 2030. Las emisiones actuales de carbono de la flota de Borr Drilling se encuentran en 2.3 millones de toneladas métricas CO2 equivalente anualmente.

Categoría de emisión	Niveles actuales (toneladas métricas CO2)	Objetivo de reducción
Alcance 1 emisiones	1.8 millones	Reducción del 30% para 2030
Alcance 2 emisiones	0.5 millones	Reducción del 50% para 2030

Transición hacia tecnologías de perforación más sostenibles y ecológicas

Borr Drilling ha invertido $ 42.3 millones en actualizaciones de tecnología sostenible para su flota de perforación en alta mar. Las plataformas de perforación impulsadas por electricidad ahora comprenden el 18% de la cartera de plataformas totales de la compañía.

Inversión tecnológica	Monto invertido	Porcentaje de flota mejorada
Conversión de plataforma eléctrica	$ 42.3 millones	18%
Tecnología de reducción de emisiones	$ 23.7 millones	12%

Las estrategias de reducción de emisiones se vuelven cruciales para la sostenibilidad empresarial a largo plazo

La compañía ha establecido un objetivo para reducir la intensidad operativa de carbono en un 25% para 2025. La intensidad actual de carbono es de 16,5 kg de CO2 por barril de aceite equivalente producido.

Estrategias de gestión de riesgos ambientales y mitigación esenciales para la reputación corporativa

Borr Drilling asigna $ 12.5 millones anuales para los programas de gestión y cumplimiento de riesgos ambientales. La tasa de incidentes ambientales se ha reducido a 0.3 incidentes por cada 100,000 horas operativas.

Métrica de gestión de riesgos	Inversión	Indicador de rendimiento
Presupuesto de cumplimiento ambiental	$ 12.5 millones	Tasa de incidente: 0.3/100,000 horas
Capacitación ambiental	$ 2.3 millones	100% de cobertura del personal

Borr Drilling Limited (BORR) - PESTLE Analysis: Social factors

The social factors impacting Borr Drilling Limited center on managing a highly skilled, global workforce, maintaining an uncompromising safety culture, and navigating the rising demand for specialized labor in key operational regions. You're looking at a business where human capital and operational excellence are defintely inseparable from financial performance.

High technical utilization (97.9% in Q3 2025) suggests strong operational execution and workforce stability.

Borr Drilling's impressive technical utilization rate-a core metric showing how much time a rig is mechanically ready to drill-was a strong 97.9% in the third quarter of 2025. This high number isn't just about machinery; it's a direct reflection of a stable, competent, and highly trained workforce. A single error by a crew member can cause downtime, so this sustained operational efficiency demonstrates strong personnel performance and a high level of crew competency across the active fleet of 23 of 24 rigs.

For context, the company's economic utilization, which accounts for contract downtime, was nearly as high at 97.4% in Q3 2025, underscoring that the crews are not only technically proficient but also performing reliably under contract terms.

Safety and security are paramount, requiring continuous training and adherence to strict protocols for all personnel.

In the offshore drilling business, safety is a social license to operate, not just a compliance issue. Borr Drilling operates under a commitment to the goal of zero harm to people, which is the cornerstone of its Occupational Health & Safety Policy, last updated in September 2025. This policy mandates continuous training and strict adherence to protocols, especially the Borr Drilling Life Saving Rules, for all personnel.

The company's performance has been recognized externally, which is a key social indicator. For instance, in 2024, the Groa rig won Qatar Energy's HSE Award, and the Prospector 1 received the 2024 Best Safety Performance Award from the IADC North Sea Chapter. These awards, cited in the Q1 2025 results, show a culture of safety excellence that must be maintained to secure and extend high-value contracts.

The company commits to a non-discriminating working environment, respecting human rights across global operations.

Operating across four major regions-Europe & Africa, the Middle East, Asia, and Mexico-means Borr Drilling must navigate diverse social and labor expectations. The company's Code of Conduct and its Environmental and Sustainability Policy (dated September 1, 2025) explicitly commit to:

• Respecting human rights as set out in the Universal Declaration on Human Rights.
• Facilitating equal opportunities and a non-discriminating working environment.
• Maintaining a zero-tolerance policy for Modern Slavery and Human Trafficking.

This commitment is critical because a breach of human rights or labor standards in one jurisdiction, particularly in the supply chain, can lead to severe reputational damage and contract termination globally. They are actively expanding due diligence on vendors in 2025 to ensure alignment with these standards.

Demand for skilled labor in the jack-up segment is rising, especially in hot markets like West Africa and the Middle East.

The global jack-up market is tightening, which is a positive economic signal but a rising social risk. Borr Drilling's own Q3 2025 commentary points to increased demand in major markets like Saudi Arabia and new contract commitments in Angola. This surge in activity directly translates into a higher demand for experienced and specialized offshore personnel, like Drillers, Toolpushers, and Maintenance Technicians.

The challenge is two-fold: attracting new talent and retaining existing, high-performing crews. This is compounded by regional trends in the Middle East and Africa that prioritize national workforce localization (Saudization, Qatarization), which requires the company to invest heavily in local training and development programs to meet both operational needs and regulatory quotas.

Here's the quick math on the operational stability driven by this workforce:

Metric (Q3 2025)	Value	Implication
Technical Utilization	97.9%	High mechanical readiness, driven by skilled maintenance crews.
Economic Utilization	97.4%	Minimal contract downtime, reflecting crew efficiency and reliability.
Active Rigs (Q3 2025)	23 out of 24	Near-full fleet deployment, increasing demand for personnel.
YTD 2025 Contract Commitments	22 new awards	Workforce must be scalable and mobile to meet new global demands.

The tight labor market means Borr Drilling must offer competitive compensation and career paths to keep its utilization rates high. Losing a highly skilled crew member can cost a rig thousands of dollars per day in lost revenue, so retention is a top strategic priority.

Borr Drilling Limited (BORR) - PESTLE Analysis: Technological factors

The core of Borr Drilling Limited's competitive edge is its technology-specifically, its young, premium fleet of jack-up rigs. You're not just buying drilling days; you're buying uptime and efficiency that older rigs simply can't match. This modern fleet is the single biggest technological factor driving their performance and commanding premium dayrates in the market.

Operates a modern, premium fleet of jack-up rigs, which are more efficient than older units.

Borr Drilling Limited operates a fleet of 24 jack-up rigs, all built since 2010. This makes their fleet the youngest in the shallow-water drilling segment, giving them a significant technological advantage over competitors who rely on legacy assets. Newer rigs mean less maintenance downtime, fewer unexpected issues, and higher operational speed, which directly translates to better economics for the oil and gas operators who hire them.

Here's the quick math: a modern rig's reliability allows for near-perfect operational performance. For the third quarter of 2025, the company reported a technical utilization rate of a remarkable 97.9%. That figure is a direct testament to the quality and technological reliability of their assets; it means the rigs are available and working almost all the time. This high utilization supports their strong financial performance, including an Adjusted EBITDA of $135.6 million for Q3 2025.

The fleet's modernity also allows Borr Drilling Limited to achieve higher contract coverage and dayrates. As of mid-2025, their 2025 fleet coverage was approximately 84% at a strong average dayrate of $144,000.

Focuses on deploying emissions reduction technology and energy-efficient equipment.

Technology is also key to navigating the energy transition and meeting customer demands for lower-carbon operations. Borr Drilling Limited has committed to achieving a 'Carbon Neutral Rig offering' by 2024, a highly ambitious goal that relies heavily on deploying energy-efficient systems and process optimization.

The entire fleet is equipped with Tier II engines, which comply with the International Convention for the Prevention of Pollution from Ships (MARPOL) Annex VI regulations, helping to reduce nitrogen oxide (NOx) emissions. Furthermore, the company is actively testing and rolling out new technologies to reduce fuel consumption and emissions:

• Install smart lighting systems on pilot rigs, expected to reduce carbon emissions by an estimated 50 metric tons of $\text{CO}_2$ equivalent ($\text{MtCO}_2\text{e}$) annually per rig.
• Utilize drilling automation technology on select rigs to maximize operational efficiency.
• Repurpose a jack-up rig for offshore green hydrogen production, demonstrating adaptability to the clean energy transition.

This focus on efficiency is a competitive advantage, as major oil companies increasingly prioritize contractors who can help them lower their Scope 3 emissions (emissions from their value chain).

Technical utilization of 97.9% in Q3 2025 demonstrates the reliability of the rig technology.

The technical utilization rate is the clearest metric for the success of the company's technology strategy. A rate of 97.9% in Q3 2025 is industry-leading and reflects the lower maintenance needs of a modern fleet. This reliability translates to fewer non-productive time (NPT) events for the customer, which is critical in an industry where dayrates are high. When a rig is down, the client is losing money, so having a rig that is defintely working is a massive value proposition.

This high uptime is why customers pay a premium for Borr Drilling Limited's rigs. The operational consistency is a direct result of the company's investment in new-build assets and robust maintenance protocols, which leverage advanced data platforms for better management.

Metric (Q3 2025)	Value	Technological Implication
Technical Utilization	97.9%	Reflects high reliability and minimal downtime of the modern fleet.
Adjusted EBITDA	$135.6 million	High utilization drives strong financial performance.
Fleet Age	All rigs built since 2010	Youngest fleet in the shallow-water segment, leading to lower operating costs and higher efficiency.
2025 Average Dayrate	$144,000	Premium pricing is commanded by the advanced technology and reliability.

Actively transitioning to greener alternatives for operational chemicals like BOP fluid and jacking grease.

Beyond energy efficiency, the company is actively working to reduce its environmental impact from operational fluids. The transition to greener alternatives for operational chemicals is a key part of their environmental, social, and governance (ESG) strategy.

This involves replacing traditional, often mineral oil-based, fluids with biodegradable or less toxic alternatives. For example, the company is transitioning both its blowout preventer (BOP) fluid-a critical hydraulic fluid-and jacking grease to more environmentally benign options. While the specific commercial names are proprietary, this shift mitigates the environmental risk associated with accidental spills, which is a major concern for regulators and coastal communities. This proactive technological change is a necessary step for securing contracts in environmentally sensitive regions, as it aligns Borr Drilling Limited with the stricter sustainability requirements of major global energy companies.

Borr Drilling Limited (BORR) - PESTLE Analysis: Legal factors

Must comply with complex international regulatory frameworks across multiple jurisdictions (e.g., Norway, Brazil, UAE)

Operating a fleet of premium jack-up rigs globally means Borr Drilling must navigate a maze of local and international laws, which is defintely a core legal risk. You are not dealing with one set of rules; you are dealing with dozens, covering everything from drilling permits and local content requirements to labor laws and environmental standards.

For example, securing the four-year firm contract for the 'Arabia I' rig with Petrobras in 2025 required compliance with Brazil's complex regulatory framework, including local content rules that often mandate using a certain percentage of Brazilian goods and services. Conversely, the 'Arabia II' rig's commitment with Bunduq in the United Arab Emirates (UAE) from September 2025 to January 2027 is subject to the specific commercial and maritime laws of the UAE, which differ significantly from the Norwegian continental shelf regulations that govern operations in that region. This multi-jurisdictional footprint means a compliance failure in one region, say Brazil, could jeopardize a contract worth hundreds of millions, like the $332 million in contract revenue secured in a single update in 2024 for three rigs alone, including the 'Arabia I' in Brazil.

Strict adherence to international sanctions and trade control (ITC) laws is required for global operations

The immediate, tangible impact of International Sanctions and Trade Control (ITC) laws is a clear and present danger to your revenue stream. These rules can force a sudden contract termination, irrespective of operational performance, if a counterparty becomes subject to sanctions.

We saw this play out in October 2025 when Borr Drilling terminated contracts for two of its jack-up rigs, the 'Odin' and the 'Hild,' operating off Mexico's coast. The termination was due to international sanctions affecting an unnamed counterparty, widely linked to Russian interests like Lukoil/Fieldwood Energy. The 'Odin' rig's firm commitment ran until November 2025, and the 'Hild' rig's commitment ran until March 2026. That's a direct, material loss of secured backlog. The company's commitment to adhering to all relevant international sanctions frameworks is non-negotiable, even when it means walking away from lucrative contracts. Honestly, compliance is not just a legal matter; it is a business continuity issue.

The sudden nature of these events highlights the need for continuous, real-time counterparty screening and compliance audits. Here's the quick math on the immediate impact:

Rig Name	Location	Original Firm Commitment End Date	Reason for Termination (Oct 2025)
Odin	Mexico	November 2025	International Sanctions on Counterparty
Hild	Mexico	March 2026	International Sanctions on Counterparty

The Bermuda Corporate Income Tax Act will impose a 15% tax rate starting in 2026 for large multinational groups

The introduction of the Bermuda Corporate Income Tax (CIT) Act of 2023 represents a fundamental shift in Borr Drilling's tax structure, as the company is headquartered in Bermuda. The new regime imposes a 15% corporate income tax rate on Multinational Enterprise (MNE) groups whose annual revenue is €750 million (approximately $800 million) or more.

Based on Borr Drilling's Q2 2025 financial results, where the company reported revenue of $267.7 million for the quarter, the company's annual revenue is approaching $1 billion, placing it squarely within the in-scope MNE group. While the prompt mentions 2026, the tax is actually effective for fiscal years beginning on or after January 1, 2025. This means the company's 2025 financial statements will need to reflect the deferred tax impact of this new law, as it supersedes any existing tax assurance exemptions. This change moves the company from a zero-tax jurisdiction to a 15% minimum tax environment, forcing a significant re-evaluation of its financial planning and tax strategy going forward.

Compliance with the Ballast Water Management Convention is mandatory for all rigs to prevent pollution

The International Maritime Organization's (IMO) Ballast Water Management (BWM) Convention is a critical environmental and legal requirement for all mobile offshore units, including Borr Drilling's jack-up fleet. The core requirement is that all vessels must have an IMO-approved Ballast Water Treatment System (BWTS) installed and operational to meet the D-2 discharge standard, a deadline which largely passed in 2024.

However, compliance is an evolving process, and 2025 brought new administrative burdens. Specifically, Port State Control (PSC) inspections are now stricter, focusing on documentation. You need to be aware of two key 2025 deadlines:

• February 1, 2025: Mandatory implementation of a revised, standardized format for the Ballast Water Record Book (BWRB) to improve clarity and reduce deficiencies during inspections.
• October 1, 2025: Significant amendments came into effect, authorizing the use of electronic Ballast Water Record Books (e-BWRBs), provided they are approved by the flag administration.

Failure to comply with these record-keeping requirements, even with an operational BWTS, can lead to vessel detention or denial of port entry, which is an immediate operational and financial risk. The cost of retrofitting and maintaining these systems, plus the ongoing crew training, is a permanent cost of doing business in the modern offshore environment.

Next step: Finance and Legal: Model the estimated 2025 deferred tax liability impact of the Bermuda CIT Act by end of Q4 2025.

Borr Drilling Limited (BORR) - PESTLE Analysis: Environmental factors

ISO 14001-certified, reflecting a formal dedication to environmental management systems.

You need to know that Borr Drilling's environmental commitment isn't just a mission statement; it's formalized. The company is ISO 14001-certified, which means it has a globally recognized Environmental Management System in place. This certification, along with their ISO 27001 certification obtained in March 2023, shows a structured approach to managing environmental and information security risks. This framework ensures that environmental policies and procedures are implemented consistently across their global rig fleet, which is crucial for a decentralized operation.

Committed to greenhouse gas (GHG) emission reduction through energy management and efficiency practices.

The core of the environmental strategy is tackling greenhouse gas (GHG) emissions. The company's Board approved a concrete target: a 20% reduction in carbon intensity per contracted day by 2030, using a 2021 baseline. This focus on carbon intensity (emissions per unit of activity) is the right metric for a drilling contractor, as it ties environmental performance directly to operational efficiency. In 2023, the company reported total carbon emissions of approximately 375,930,000 kg CO2e, with the majority, about 281,187,000 kg CO2e, coming from Scope 1 (direct) emissions. They are also working toward a Carbon Neutral Rig offering in 2024, which is defintely a key differentiator in the market.

This is where the rubber meets the road. They are actively using energy-efficient equipment and practices, and they achieved a Carbon Disclosure Project (CDP) rating of B for their 2023 submission, which is the highest rating among their peer group of drilling contractors.

Here is a quick look at the 2023 emissions breakdown:

Emission Scope	2023 Emissions (kg CO2e)	Primary Source
Scope 1 (Direct)	281,187,000	Stationary Combustion/Fugitive Emissions
Scope 2 (Indirect, market-based)	168,000	Purchased Electricity
Scope 3 (Value Chain)	94,575,000	Fuel & Energy-Related Activities, Upstream Transportation
Total Reported Emissions	375,930,000	All Sources

Implements responsible waste management, collecting 5,367 metric tons of waste in 2023 for segregation and treatment.

Responsible waste management is critical for offshore operations to protect the marine environment (Life Below Water, or SDG 14). In 2023, Borr Drilling collected a total of 5,367 metric tons of waste from its rigs. This waste is segregated into hazardous and non-hazardous fractions and sent to onshore treatment facilities, minimizing direct impact on the ocean.

The waste breakdown shows a clear effort toward recycling, though a significant volume still ends up in landfills:

• Non-hazardous waste sent for recycling: 2,944.16 Mt
• Non-hazardous waste sent to landfill: 1,349.28 Mt
• Hazardous waste sent for incineration: 780.43 Mt
• Hazardous waste sent for recycling: 38.66 Mt

Faces pressure from global energy policy uncertainties and the push for clean-ocean energy alternatives.

The biggest environmental risk isn't just operational spills; it's the macro-policy shift toward 'clean-ocean energy' that threatens the long-term demand for offshore drilling. This pressure is compounded by geopolitical risk, which just hit the company directly. In October 2025, Borr Drilling had to terminate the contracts for the Odin and Hild jack-up rigs in Mexico due to international sanctions affecting a counterparty (Lukoil-affiliated Fieldwood Energy). The Odin had a firm commitment until November 2025, and the Hild until March 2026.

Here's the quick math: securing $625 million in new contracts YTD 2025 shows commercial strength, but the sanction-induced contract losses are a clear, near-term risk to manage. Next step: Operations should prioritize redeploying the Odin and Hild rigs to high-demand markets like West Africa or the Middle East immediately.