Prospector 5 sinks offshore Gabon as searches and investigations continue

Borr Drilling’s jack-up rig Prospector 5 sank offshore Gabon on October 24 while preparing for a drilling campaign for BW Energy. In its October 26 update, Borr confirmed that 110 of the 115 people aboard were safe, while five remained unaccounted for.
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The accident occurred at approximately 20:37 local time in the Dussafu Marin licence, offshore Mayumba. The rig lost stability during jacking operations near the MaBoMo production facility.

The underlying cause remains under investigation. Identifying a punch-through mechanism does not, by itself, establish whether the accident resulted from seabed conditions, deficiencies in site assessment, operational decisions or equipment failure.
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Gabon’s government announced administrative and judicial investigations to determine the circumstances, causes and responsibilities. A maritime crisis command was established under the national navy, with assistance from the Republic of Congo and plans to deploy ROVs to inspect the submerged unit.
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Borr said marine and air searches remained underway on October 26. Survivors were being brought ashore for medical care and support, while the company remained in contact with the families of the missing personnel.
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Built in 2014 at Shanghai Waigaoqiao Shipbuilding in China, Prospector 5 is a Friede & Goldman JU-2000E jack-up rated for water depths of up to 400 feet, approximately 122 metres. Originally part of Prospector Offshore Drilling, the unit worked for Total in the UK North Sea before joining Borr’s fleet through its acquisition of Paragon in 2018.
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The rig’s earlier history includes a substantial financial and legal restructuring. In July 2015, Paragon completed a combined US$300 million sale-and-leaseback transaction covering Prospector 1 and Prospector 5 with subsidiaries of SinoEnergy. The two units were sold and immediately leased back for five years.

​Paragon’s subsequent Chapter 11 filing triggered a default under those lease agreements. In July 2017, the Prospector entities entered separate Chapter 11 proceedings amid a dispute over the financing arrangements.
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A settlement approved in March 2018 enabled the transfer of the Prospector entities to the reorganised Paragon and the dismissal of their bankruptcy cases. Borr’s acquisition of Paragon closed on March 29, 2018.
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A shareholder challenged aspects of the process. In March 2019, the US District Court for the District of Delaware dismissed the consolidated appeal because the appellant lacked standing. Those proceedings addressed financing, ownership and shareholder interests. They provide historical context but establish no connection to the cause of the current accident.
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More recently, Prospector 5 worked for Eni in Congo before moving to BW Energy’s Gabon programme. In April 2026, Borr announced a binding award covering four wells, with a minimum duration of 320 days and options for a further 220 days.
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The rig had already participated in drilling at Dussafu before the casualty. On October 15, Panoro Energy confirmed completion of the North-West Hibiscus appraisal wells and said Prospector 5 was mobilising to MaBoMo for the Phase 2 campaign.
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The planned sequence included a workover to replace an electrical submersible pump in an existing Hibiscus well, followed by four new production wells. Successful appraisal results also supported an additional production well targeting the Hibiscus extension.
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Before the accident, the first Phase 2 production well was expected online in early 2027. BW Energy projected that the phase would add up to 20,000 barrels per day of gross production at peak. The loss of the drilling unit now places execution of that programme under uncertainty.
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MaBoMo was already shut down for drilling preparations when the accident occurred. BW Energy reported no damage to the production facility or related equipment, and no discharge of harmful substances from that facility.
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The sunken rig presents a separate environmental concern. Gabon’s government reported that Prospector 5 carried 280 cubic metres of diesel. Its October 25 statement said no hydrocarbon pollution had been observed, while surveillance and response resources remained mobilised.
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The investigations will address the loss of stability and the responsibilities surrounding the accident. Search operations, support for affected personnel and monitoring of the submerged rig continue.