Borr Drilling Limited (Borr): Analyse du Pestle [Jan-2025 MISE À JOUR]

Dans le monde dynamique du forage offshore, Borr Drilling Limited navigue dans un paysage complexe de défis et d'opportunités mondiales. Des tensions géopolitiques aux innovations technologiques, le positionnement stratégique de l'entreprise dépend de sa capacité à s'adapter aux conditions du marché en évolution rapide. Cette analyse complète du pilon dévoile le réseau complexe de facteurs politiques, économiques, sociologiques, technologiques, juridiques et environnementaux qui façonnent l'écosystème opérationnel de Borr de forage, offrant une plongée profonde dans les influences externes critiques qui stimulent la stratégie commerciale de l'entreprise et le potentiel futur.

Borr Drilling Limited (Borr) - Analyse du pilon: facteurs politiques

Règlements de forage offshore impact sur les stratégies opérationnelles

Borr Drilling Limited fonctionne dans des cadres réglementaires internationaux complexes dans plusieurs juridictions:

Région	Corps réglementaire	Exigences réglementaires clés
Norvège	Direction du pétrole norvégien	Normes de conformité environnementale strictes
Émirats arabes unis	Abu Dhabi National Oil Company	Exigences de contenu local de 70% de main-d'œuvre
Brésil	Agence nationale du pétrole	Protocoles de certification de sécurité obligatoires

Tensions géopolitiques affectant les contrats de forage

Les tensions régionales du Moyen-Orient et de la mer du Nord ont un impact directement sur les opportunités de contrat de Borr Drilling:

• Les sanctions iraniennes limitant les capacités opérationnelles dans le golfe Persique
• Conflit de la Russie-Ukraine réduisant les investissements de forage de la mer du Nord
• Les négociations géopolitiques de l'Arabie saoudite influencent les contrats énergétiques régionaux

Sanctions internationales et politiques commerciales

Le paysage de la politique commerciale actuelle présente des défis importants:

Régime de sanction	Impact sur le forage Borr	Restriction estimée des revenus
Les sanctions américaines de l'Iran	Accès du marché restreint	Environ 42 millions de dollars potentiels ont perdu des revenus
Sanctions russes de l'UE	Zones opérationnelles limitées	Réduction du contrat estimée à 35 millions de dollars

Incertitudes de politique énergétique gouvernementale

Les transitions d'énergie renouvelable créent des complexités du marché:

• L'engagement de la Norvège à 55% de réduction des émissions d'ici 2030
• Cible vent offshore du Royaume-Uni de 50 GW d'ici 2030
• L'objectif de l'Union européenne de 42,5% d'énergie renouvelable d'ici 2030

Les environnements réglementaires politiques continuent de façonner considérablement le positionnement stratégique de Borr de forage sur les marchés internationaux.

Borr Drilling Limited (Borr) - Analyse du pilon: facteurs économiques

Les prix du pétrole fluctuant

Brent Prix du pétrole brut à partir de janvier 2024: 78,50 $ le baril. Les revenus de Borr Drilling sont directement en corrélation avec la volatilité des prix du pétrole.

Année	Prix ​​du pétrole moyen	Borr Forling Revenue
2022	$100.42	412,1 millions de dollars
2023	$81.80	385,6 millions de dollars

Reprise économique mondiale

Indicateurs de demande de forage offshore:

• Compte de plates-formes mondiales: 1 412 plates-formes actives en janvier 2024
• Taux d'utilisation de la plate-forme offshore: 72,3%
• Taux de jour moyens pour les plates-formes Jack-up: 78 500 $

Investissement dans le forage en eau profonde

Région	Investissement en eau profonde projetée (2024-2026)
Amérique du Nord	24,3 milliards de dollars
Moyen-Orient	15,7 milliards de dollars
Europe	8,6 milliards de dollars

Volatilité des taux de change

Impact du taux de change sur les coûts opérationnels du forage d'Emborr:

• Taux de change USD / NOK: 10,47 en janvier 2024
• Taux de change USD / EUR: 0,92 en janvier 2024
• Coûts de couverture de la monnaie estimés: 3,2 millions de dollars en 2023

Borr Drilling Limited (Borr) - Analyse du pilon: facteurs sociaux

La sensibilisation à l'environnement croissante remet en question la perception traditionnelle du forage offshore

Selon le rapport Global Energy Monitor 2023, les investissements en forage offshore ont diminué de 12,7% par rapport à 2022. Les enquêtes sur la perception du public indiquent que 68% des répondants expriment des préoccupations concernant l'impact environnemental du forage offshore.

Année	Préoccupation environnementale publique (%)	Réduction des investissements au forage offshore (%)
2022	58%	8.3%
2023	68%	12.7%

Les données démographiques de la main-d'œuvre se déplacent vers des professionnels plus jeunes et axés sur la technologie

La composition de la main-d'œuvre de Borr Drilling montre que 47% des employés ont moins de 35 ans. Le taux d'adoption de la technologie au sein de l'entreprise atteint 82% pour les solutions numériques sur le lieu de travail.

Groupe d'âge	Pourcentage (%)
Moins de 35 ans	47%
35-50	38%
Plus de 50	15%

Les attentes sociales pour les pratiques d'entreprise durables et responsables augmentent

Les investissements en durabilité d'Emborr Drilling ont atteint 24,3 millions de dollars en 2023, ce qui représente 3,6% du total des dépenses opérationnelles. Des objectifs de réduction des émissions de carbone fixés à 22% d'ici 2025.

La culture de la sécurité et le bien-être des employés deviennent des différenciateurs compétitifs critiques

Métriques de sécurité au travail pour le forage Borr en 2023:

• Taux d'incident enregistrable total (TRIR): 1,2 pour 200 000 heures de travail
• Taux de fréquence des blessures perdus (LTIFR): 0,4
• Couverture du programme de soutien à la santé mentale des employés: 94%

Métrique de sécurité	Valeur 2023
Troupeau	1.2
LTIFR	0.4
Soutien à la santé mentale	94%

Borr Drilling Limited (Borr) - Analyse du pilon: facteurs technologiques

Les technologies numériques avancées améliorent l'efficacité du forage et la surveillance opérationnelle

Borr Drilling Limited Deployed en temps réel des plates-formes d'analyse de données en temps réel à travers sa flotte, avec 17 plates-formes de jack-up haute spécification équipées de systèmes de surveillance numérique avancés au Q4 2023.

Type de technologie	Taux de mise en œuvre	Amélioration des performances
Analyse des données de forage en temps réel	82%	15,3% d'efficacité opérationnelle
Surveillance opérationnelle à distance	76%	12,7% de réduction des coûts
Systèmes de maintenance prédictive	68%	22,5% de réduction des temps d'arrêt de l'équipement

L'automatisation et l'intégration de l'IA améliorent les performances des régimes et la prévisibilité de la maintenance

Borr Drilling a investi 24,3 millions de dollars dans l'IA et les technologies d'apprentissage automatique en 2023, ciblant les capacités de forage autonomes et les stratégies de maintenance prédictive.

Application d'IA	Montant d'investissement	ROI attendu
Systèmes de forage autonome	12,7 millions de dollars	18-24 mois
AI de maintenance prédictive	11,6 millions de dollars	15-20 mois

L'investissement dans des plates-formes de forage modernes et à haute spécification augmente la compétitivité du marché

En décembre 2023, Borr Drilling a exploité 32 plates-formes modernes, avec un âge moyen de 6,2 ans et des spécifications technologiques répondant aux normes internationales de l'industrie.

Spécification de la plate-forme	Nombre de plates-formes	Marché avantage concurrentiel
Plates-formes de jack-up à haute spécification	32	Taux d'utilisation du contrat à 95%
Intégration des technologies avancées	28	Capacité de tarification à 15%

Technologies de cybersécurité essentielles pour protéger les données opérationnelles et les infrastructures

Borr Foreling a alloué 8,5 millions de dollars aux systèmes d'infrastructures de cybersécurité et de détection de menaces en 2023, mettant en œuvre des protocoles de sécurité multicouches sur les plateformes numériques.

Mesure de la cybersécurité	Investissement	Couverture de protection
Détection avancée des menaces	4,2 millions de dollars	99,8% de protection contre les infrastructures numériques
Systèmes de communication chiffrés	2,9 millions de dollars	Sécurité de la communication opérationnelle à 100%
Plates-formes de surveillance continues	1,4 million de dollars	Évaluation des menaces 24/7 en temps réel

Borr Drilling Limited (Borr) - Analyse du pilon: facteurs juridiques

Conformité aux réglementations internationales de sécurité maritime et de forage

Borr Drilling Limited Adhees to International Maritime Organisation (OMI) Résolution des règlements MEPC.259 (68) pour la gestion des eaux de ballast. La société maintient le respect des exigences du code international de la gestion de la sécurité (ISM).

Norme de réglementation	Statut de conformité	Fréquence d'audit annuelle
Convention IMO Marpol	Pleinement conforme	2 audits externes
ISO 9001: Gestion de la qualité 2015	Agréé	1 Audit de recertification
Normes de sécurité OHSAS 18001	Mis en œuvre	2 audits de surveillance

Lois sur la protection de l'environnement Impact

Borr Drilling Limited a engagé 3,2 millions de dollars de dépenses de conformité environnementale en 2023. La société exploite 15 plates-formes de forage Jack-Up avec une technologie environnementale améliorée pour répondre aux exigences réglementaires strictes.

Réglementation environnementale	Coût de conformité	Cible de réduction des émissions
Émissions de gaz à effet de serre	1,5 million de dollars	12% de réduction d'ici 2025
Gestion des déchets	$850,000	Taux de recyclage à 95%
Protection des écosystèmes marins	$850,000	Incidents de pollution marine zéro

Accords contractuels complexes

Borr Drilling Limited gère 22 contrats de forage international actifs avec le carnet de commandes du contrat total d'une valeur de 1,47 milliard de dollars au quatrième trimestre 2023.

Normes de santé, de sécurité et d'environnement de la main-d'œuvre

La société maintient un 0,85 taux d'incident enregistrable total (TRIR), nettement inférieur à la moyenne de l'industrie de 1,5.

Métrique de sécurité	Performance de 2023	Benchmark de l'industrie
Taux d'incident total enregistrable	0.85	1.5
Fréquence de blessures de temps perdu	0.22	0.50
Heures de formation à la sécurité	52,000	N / A

Borr Drilling Limited (Borr) - Analyse du pilon: facteurs environnementaux

Pression croissante pour réduire l'empreinte carbone dans les opérations de forage offshore

Selon l'International Maritime Organisation (OMI), les navires de forage offshore doivent réduire les émissions de gaz à effet de serre de 40% d'ici 2030. Les émissions actuelles de carbone de la flotte de Borr Drilling s'élèvent à 2,3 millions de tonnes de CO2 équivalentes chaque année.

Catégorie d'émission	Niveaux actuels (tonnes métriques CO2)	Cible de réduction
Émissions de la portée 1	1,8 million	Réduction de 30% d'ici 2030
Émissions de la portée 2	0,5 million	50% de réduction d'ici 2030

Transition vers des technologies de forage plus durables et respectueuses de l'environnement

Borr Drilling a investi 42,3 millions de dollars dans des améliorations de technologies durables pour sa flotte de forage offshore. Les plates-formes de forage électriques représentent désormais 18% du portefeuille total de plate-forme de la société.

Investissement technologique	Montant investi	Pourcentage de flotte améliorée
Conversion de la plate-forme électrique	42,3 millions de dollars	18%
Technologie de réduction des émissions	23,7 millions de dollars	12%

Les stratégies de réduction des émissions deviennent cruciales pour la durabilité des entreprises à long terme

La Société a fixé un objectif pour réduire l'intensité opérationnelle du carbone de 25% d'ici 2025. L'intensité du carbone actuel est de 16,5 kg de CO2 par baril d'équivalent pétrolier produit.

Stratégies de gestion des risques et d'atténuation environnementales essentielles à la réputation des entreprises

Borr Foreling alloue 12,5 millions de dollars par an pour les programmes de gestion des risques et de conformité environnementaux. Le taux d'incident environnemental a été réduit à 0,3 incident pour 100 000 heures de fonctionnement.

Métrique de gestion des risques	Investissement	Indicateur de performance
Budget de conformité environnementale	12,5 millions de dollars	Taux d'incident: 0,3 / 100 000 heures
Formation environnementale	2,3 millions de dollars	Couverture 100% du personnel

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.