Noble bags $84m Suriname gig with Petronas

Offshore drilling company Noble Corp has recently announced a significant contract win for its high-specification semisubmersible rig, the Noble Developer. This contract involves drilling three wells offshore Suriname for the Malaysian oil and gas company Petronas. The deal marks a notable achievement for Noble Corp as it prepares to expand its operations in the region.

Contract Details and Timeline

The contract is set to commence around June 2025 and will last for an estimated duration of 200 days. The total value of the firm contract is approximately $84 million. This figure includes additional services, as well as mobilisation and demobilisation fees. In a strategic move, both parties have agreed to include an option for an additional well, which could further enhance the contract’s value and extend the rig’s operational timeline.

Currently, the Noble Developer is available and stationed offshore Trinidad and Tobago. Noble Corp is gearing up for the upcoming contract with Petronas, with preparations expected to start immediately. This proactive approach demonstrates the company’s commitment to ensuring a smooth transition into the new drilling project. The Noble Developer has a proven track record, having previously operated for Petronas in Suriname. This experience is likely to facilitate a successful collaboration in the future.

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Expectations and Future Prospects

Blake Denton, Senior Vice President of Marketing and Contracts at Noble, expressed optimism about the upcoming project. He stated, “The Developer has previously operated for Petronas in Suriname, and we look forward to getting the rig back to work in mid-2025.” This sentiment reflects the confidence that Noble Corp has in its capabilities and the reliability of its equipment.

The contract with Petronas not only reinforces Noble Corp’s position in the offshore drilling market but also highlights the growing demand for drilling services in the Suriname region. As oil and gas exploration continues to expand, companies like Noble are well-positioned to capitalize on new opportunities. The successful execution of this contract could lead to further projects and partnerships, enhancing Noble Corp’s reputation and operational footprint in the industry.