Noble drillships to work for Shell and Petrobras

Shell and Petrobras book Noble’s drillships

Noble Corporation has won contracts with UK-headquartered energy giant Shell and Brazilian state-owned oil and gas giant Petrobras, respectively, for two of its 7th-generation drillships.

Noble Voyager. Source: Noble Corporation

Shell has contracted Noble Voyager to drill a deepwater exploration well offshore Mauritania. The drillship is currently operating for the energy giant offshore Mexico.

The new contract has an estimated duration of 60 days at an undisclosed day rate, includes mobilization and demobilization fees, and includes options to extend the duration by up to 24 additional months.

According to Noble, the activities are expected to commence in continuation of the drillship’s current contract with Shell.

In addition, Petrobras has awarded a long-term contract for the ultra-deepwater drillship Noble Faye Kozack for operations at the BM-S-11 and Tupi fields offshore Brazil. The drillship is currently operating in the U.S. Gulf of Mexico.

Noble Faye Kozack. Source: Noble Corporation

The contract has a firm duration of two and a half years, with expected commencement in the fourth quarter of the year. It is valued at approximately $500 million including a mobilization fee and additional services provided.

“We are delighted to have secured this contract which will see a Noble drillship reenter Brazilian waters and marks our first collaboration with Petrobras in many years,” said Robert Eifler, President and CEO of Noble Corporation.

“Brazil is one of the most exciting deepwater markets in the world right now, not least due to Petrobras’ ambitious plans to further develop Brazilian hydrocarbons supply. We look forward to delivering safe and efficient operations on this long-term work scope.”

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Earlier this month, Noble Corporation reported it had won new contracts and extensions for multiple rigs in Guyana, Colombia, the U.S. Gulf of Mexico, and offshore Sarawak, Malaysia.

Thanks to the new deals totaling $1.1 billion, secured over the past three months, Noble’s total backlog has expanded to $4.6 billion from $3.9 billion on 31 December 2022.

The company’s contract drilling services revenue for 1Q 2023 totaled $575 million due to lower utilization, compared to $586 million in the fourth quarter of 2022 and $195 million in 1Q 2022.