Borr Drilling Limited (BORR): Análise de Pestle [Jan-2025 Atualizado]

No mundo dinâmico da perfuração offshore, a Borr Drilling Limited navega em um cenário complexo de desafios e oportunidades globais. De tensões geopolíticas a inovações tecnológicas, o posicionamento estratégico da empresa depende de sua capacidade de se adaptar a condições de mercado em rápida evolução. Essa análise abrangente de pestles revela a intrincada rede de fatores políticos, econômicos, sociológicos, tecnológicos, legais e ambientais que moldam o ecossistema operacional da Borr Drilling, oferecendo um profundo mergulho nas influências externas críticas que impulsionam a estratégia de negócios da empresa e o potencial futuro.

Borr Drilling Limited (BORR) - Análise de pilão: fatores políticos

Os regulamentos de perfuração offshore impactam as estratégias operacionais

A Borr Drilling Limited opera sob estruturas regulatórias internacionais complexas em várias jurisdições:

Região	Órgão regulatório	Principais requisitos regulatórios
Noruega	Diretoria de Petróleo Norueguês	Padrões rígidos de conformidade ambiental
Emirados Árabes Unidos	Companhia nacional de petróleo de Abu Dhabi	Requisitos de conteúdo local de 70% de força de trabalho
Brasil	Agência Nacional de Petróleo	Protocolos obrigatórios de certificação de segurança

Tensões geopolíticas que afetam contratos de perfuração

As tensões regionais do Oriente Médio e do Norte afetam diretamente as oportunidades de contrato da Borr Drilling:

• Sanções do Irã limitando as capacidades operacionais no Golfo Pérsico
• Conflito da Rússia-Ucrânia Reduzindo investimentos no Mar do Norte
• As negociações geopolíticas da Arábia Saudita que influenciam os contratos regionais de energia

Sanções internacionais e políticas comerciais

O cenário atual da política comercial apresenta desafios significativos:

Regime de sanção	Impacto na perfuração do Borr	Restrição estimada de receita
Sanções do Irã dos EUA	Acesso restrito no mercado	Aproximadamente US $ 42 milhões em potencial perdido receita
Sanções russas da UE	Zonas operacionais limitadas	Redução de contrato estimada em US $ 35 milhões

Incertezas da política energética do governo

As transições de energia renovável criam complexidades de mercado:

• Compromisso da Noruega com 55% de redução de emissões até 2030
• Alvo eólico offshore do Reino Unido de 50 GW até 2030
• A meta da União Europeia de 42,5% de energia renovável até 2030

Os ambientes regulatórios políticos continuam a moldar significativamente o posicionamento estratégico da Borr Drilling nos mercados internacionais.

Borr Drilling Limited (BORR) - Análise de pilão: Fatores econômicos

Preços flutuantes do petróleo

Preço do petróleo de Brent em janeiro de 2024: US $ 78,50 por barril. A receita da Borr Drilling se correlaciona diretamente com a volatilidade do preço do petróleo.

Ano	Preço médio do petróleo	BORR Receita de perfuração
2022	$100.42	US $ 412,1 milhões
2023	$81.80	US $ 385,6 milhões

Recuperação econômica global

Indicadores de demanda de perfuração offshore:

• Contagem global de plataformas: 1.412 plataformas ativas em janeiro de 2024
• Taxa de utilização de plataforma offshore: 72,3%
• Taxas diárias médias para plataformas de jack-up: US $ 78.500

Investimento em perfuração de águas profundas

Região	Investimento em águas profundas projetadas (2024-2026)
América do Norte	US $ 24,3 bilhões
Médio Oriente	US $ 15,7 bilhões
Europa	US $ 8,6 bilhões

Volatilidade da taxa de câmbio

Impacto da taxa de câmbio nos custos operacionais da Borr Drilling:

• Taxa de câmbio do USD/NOK: 10,47 em janeiro de 2024
• Taxa de câmbio USD/EUR: 0,92 em janeiro de 2024
• Custos estimados de hedge de moeda: US $ 3,2 milhões em 2023

Borr Drilling Limited (BORR) - Análise de pilão: Fatores sociais

A crescente conscientização ambiental desafia a percepção tradicional de perfuração offshore

De acordo com o Relatório Global de Monitor de Energia de 2023, os investimentos em perfuração offshore diminuíram 12,7% em comparação com 2022. As pesquisas de percepção pública indicam que 68% dos entrevistados expressam preocupações sobre o impacto ambiental da perfuração offshore.

Ano	Preocupação ambiental pública (%)	Redução de investimentos para perfuração offshore (%)
2022	58%	8.3%
2023	68%	12.7%

A demografia da força de trabalho muda para profissionais mais jovens e orientados a tecnologia

A composição da força de trabalho da Borr Drilling mostra que 47% dos funcionários têm menos de 35 anos. A taxa de adoção de tecnologia dentro da empresa atinge 82% para soluções de local de trabalho digital.

Faixa etária	Porcentagem (%)
Abaixo de 35	47%
35-50	38%
Mais de 50	15%

As expectativas sociais para práticas corporativas sustentáveis ​​e responsáveis ​​aumentam

Os investimentos em sustentabilidade da Borr Drilling atingiram US $ 24,3 milhões em 2023, representando 3,6% do total de despesas operacionais. Alvos de redução de emissão de carbono fixados em 22% até 2025.

A cultura de segurança e o bem-estar dos funcionários tornam-se diferenciadores competitivos críticos

Métricas de segurança no local de trabalho para perfuração do Borr em 2023:

• Taxa total de incidentes recordáveis ​​(TRIR): 1,2 por 200.000 horas de trabalho
• Taxa de frequência de lesão por tempo perdida (LTIFR): 0,4
• Programa de apoio à saúde mental dos funcionários Cobertura: 94%

Métrica de segurança	2023 valor
Trir	1.2
Ltifr	0.4
Apoio à saúde mental	94%

Borr Drilling Limited (BORR) - Análise de pilão: Fatores tecnológicos

Tecnologias digitais avançadas aprimoram a eficiência da perfuração e o monitoramento operacional

A Borr Drilling Limited implantou plataformas de análise de dados em tempo real em sua frota, com 17 plataformas de alta especificação equipadas com sistemas avançados de monitoramento digital a partir do quarto trimestre 2023.

Tipo de tecnologia	Taxa de implementação	Melhoria de desempenho
Análise de dados de perfuração em tempo real	82%	15,3% de eficiência operacional
Monitoramento operacional remoto	76%	12,7% de redução de custo
Sistemas de manutenção preditivos	68%	22,5% de redução de tempo de inatividade do equipamento

A automação e a integração da IA ​​melhoram o desempenho da plataforma e a previsibilidade de manutenção

A Borr Drilling investiu US $ 24,3 milhões em tecnologias de IA e aprendizado de máquina durante 2023, visando recursos de perfuração autônomos e estratégias de manutenção preditiva.

Aplicação da IA	Valor do investimento	ROI esperado
Sistemas de perfuração autônomos	US $ 12,7 milhões	18-24 meses
Manutenção preditiva AI	US $ 11,6 milhões	15-20 meses

O investimento em plataformas modernas de perfuração de alta especificação aumenta a competitividade do mercado

Em dezembro de 2023, a Borr Drilling operava 32 plataformas modernas, com uma idade média da plataforma de 6,2 anos e especificações tecnológicas que atendem aos padrões internacionais da indústria.

Especificação da plataforma	Número de plataformas	Vantagem competitiva do mercado
Ratazes de alta especificação	32	Taxa de utilização de contrato de 95%
Integração de tecnologia avançada	28	Capacidade de preços premium de 15%

Tecnologias de segurança cibernética críticas para proteger dados operacionais e infraestrutura

A Borr Drilling alocou US $ 8,5 milhões para sistemas de detecção de infraestrutura e ameaça de segurança cibernética em 2023, implementando protocolos de segurança de várias camadas em plataformas digitais.

Medida de segurança cibernética	Investimento	Cobertura de proteção
Detecção avançada de ameaças	US $ 4,2 milhões	99,8% de proteção de infraestrutura digital
Sistemas de comunicação criptografados	US $ 2,9 milhões	Segurança de comunicação operacional 100%
Plataformas de monitoramento contínuo	US $ 1,4 milhão	Avaliação de ameaças em tempo real 24/7 em tempo real

Borr Drilling Limited (BORR) - Análise de pilão: fatores legais

Conformidade com os regulamentos internacionais de segurança marítima e de perfuração

A Borr Drilling Limited adere aos regulamentos da Organização Marítima Internacional (IMO) MEPC.259 (68) para gerenciamento de água de lastro. A Companhia mantém a conformidade com os requisitos do código internacional de gerenciamento de segurança (ISM).

Padrão regulatório	Status de conformidade	Frequência de auditoria anual
Convenção da IMO Marpol	Totalmente compatível	2 auditorias externas
ISO 9001: 2015 Gerenciamento da qualidade	Certificado	1 Auditoria de recertificação
Padrões de segurança OHSAS 18001	Implementado	2 auditorias de vigilância

Leis de proteção ambiental impacto

A Borr Drilling Limited incorreu em US $ 3,2 milhões em despesas de conformidade ambiental em 2023. A Companhia opera 15 plataformas de perfuração Jack-up com tecnologia ambiental aprimorada para atender aos rigorosos requisitos regulatórios.

Regulamentação ambiental	Custo de conformidade	Alvo de redução de emissão
Emissões de gases de efeito estufa	US $ 1,5 milhão	12% de redução até 2025
Gerenciamento de resíduos	$850,000	Taxa de reciclagem de 95%
Proteção do ecossistema marinho	$850,000	Incidentes de poluição marítima zero

Acordos contratuais complexos

A Borr Drilling Limited gerencia 22 contratos ativos de perfuração internacional com atraso total de contratos avaliados em US $ 1,47 bilhão a partir do quarto trimestre 2023.

Padrões de Saúde, Segurança e Ambiental da Força de Trabalho

A empresa mantém um 0,85 Taxa total de incidentes recordáveis ​​(TRIR), significativamente abaixo da média da indústria de 1,5.

Métrica de segurança	2023 desempenho	Referência da indústria
Taxa de incidente total recordável	0.85	1.5
Frequência de lesão por tempo perdido	0.22	0.50
Horário de treinamento de segurança	52,000	N / D

Borr Drilling Limited (BORR) - Análise de pilão: Fatores ambientais

Aumento da pressão para reduzir a pegada de carbono em operações de perfuração offshore

De acordo com a Organização Marítima Internacional (IMO), os navios de perfuração offshore devem reduzir as emissões de gases de efeito estufa em 40% até 2030. As atuais emissões de carbono da frota de Borr Drilling têm 2,3 milhões de toneladas de Métricas equivalentes anualmente.

Categoria de emissão	Níveis de corrente (toneladas métricas CO2)	Alvo de redução
Escopo 1 emissões	1,8 milhão	Redução de 30% até 2030
Escopo 2 emissões	0,5 milhão	Redução de 50% até 2030

Transição para tecnologias de perfuração mais sustentáveis ​​e ecológicas

A Borr Drilling investiu US $ 42,3 milhões em atualizações de tecnologia sustentável para sua frota de perfuração offshore. As plataformas de perfuração acionadas por energia elétrica agora compreendem 18% do portfólio total de plataformas da empresa.

Investimento em tecnologia	Valor investido	Porcentagem de frota atualizada
Conversão de plataforma elétrica	US $ 42,3 milhões	18%
Tecnologia de redução de emissões	US $ 23,7 milhões	12%

Estratégias de redução de emissões se tornando cruciais para a sustentabilidade dos negócios a longo prazo

A empresa estabeleceu um alvo para reduzir a intensidade operacional de carbono em 25% em 2025. A intensidade da corrente do carbono é de 16,5 kg de CO2 por barril de petróleo equivalente produzido.

Estratégias de gestão e mitigação de riscos ambientais essenciais para a reputação corporativa

A Borr Drilling aloca US $ 12,5 milhões anualmente para programas de gerenciamento e conformidade de riscos ambientais. A taxa de incidentes ambientais foi reduzida para 0,3 incidentes por 100.000 horas operacionais.

Métrica de gerenciamento de riscos	Investimento	Indicador de desempenho
Orçamento de conformidade ambiental	US $ 12,5 milhões	Taxa de incidentes: 0,3/100.000 horas
Treinamento ambiental	US $ 2,3 milhões	Cobertura de 100% da equipe

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.