Noble new foray in Guyana establishes company as primary frontier driller

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Julie Robertson, Chairman, President and Chief Executive of Noble Corporation

The addition of a second Noble drillship in the oil-rich waters off the Guyana coast is seen as a major boost for Noble Corporation and the strengthening of its relationship with US oil major, ExxonMobil; the operator in the 6.6 million acres Stabroek Block.

Julie Robertson, Chairman, President and Chief Executive of Noble Corporation told analysts during the company’s earnings call on Friday that the contract awarded to the Noble Tom Madden to drill offshore Guyana is a significant development for the UK-based offshore drilling contractor.

“The award expands our relationship with ExxonMobil, while further diversifying our revenue base and establishes Noble as the primary offshore service provider in one of the world’s premier exploration and development programs,” she said.

The Noble Tom Madden was recently awarded two well programs with three optional wells for exploration drilling offshore the South American country.

“The contract is expected to commence in October when the Madden will join the Noble Bob Douglas which has performed at an exceptional level since commencing operations last April offshore Guyana,” Ms. Robertson stated.

The addition of the Tom Madden will bring the total number of drillships operating in the Stabroek Block to three – the other vessel being the Stena Carron.