Borr Drilling's Prospector 5 rig sinks off Gabon; five of 115 people aboard missing

Borr Drilling's jack-up rig Prospector 5 sank offshore Gabon after an incident at approximately 20:37 local time on 24 October 2026, the Oslo- and New York-listed driller said in a regulatory release at 07:08 CET on 25 October. Of the 115 personnel on board, 110 had been safely accounted for and five remained unaccounted for, it said, with extensive search and rescue operations under way. The rig was carrying out jacking operations ahead of a planned drilling campaign.

Borr said preliminary information indicates the rig had a punch-through event during preload activities, which led to a loss of stability and then to the sinking. It has not given any other cause. The company said its onshore emergency response team had been activated and that it is working with local authorities and BW Energy to respond, support those affected and search for the missing.

BW Energy, which operates the Dussafu Marine licence in Gabon where the incident took place, gave the same figures in its own release at 07:24 CET: 115 people on board, 110 safely accounted for and five missing. It said the rig lost stability during jacking operations and sank, and that it is supporting the search in close coordination with Borr, the relevant authorities and emergency responders. BW Energy said production at the MaBoMo facility has been shut down under standard procedure during the ongoing drilling preparations. It added that no damage to the facility or its equipment, and no accidental spill of harmful substances from it into the sea, had been reported.

Neither company has said anything about insurance, what the incident means for the rig's contract with BW Energy, or any financial impact. As of 10:42 CET on 25 October, neither had published a further release on Oslo Børs NewsWeb, so the figures above are the latest from the companies.