Noble Corp Announced Drilling Services Agreement with ExxonMobil
Noble Corporation plc and ExxonMobil announced the execution of a unique commercial enabling agreement for drilling services in the Guyana-Suriname Basin.
The agreement defines contract terms for the continuation of drilling services using certain drilling units in Noble’s fleet. The ultra-deepwater drillships Noble Bob Douglas, Noble Tom Madden and Noble Don Taylor, which are currently executing drilling assignments for ExxonMobil offshore Guyana, are included in the framework agreement, and other drilling rigs may be added to the agreement.
The Noble Bob Douglas is located on the Liza Phase I field development project, while the Noble Tom Madden and Noble Don Taylor are assigned to exploration drilling in the region.
Following the dates listed in the second column of the table below, dayrates earned by each rig will be updated at least twice per year to the prevailing market rate, subject to a scale-based discount and performance bonus which appropriately aligns the interests of Noble and ExxonMobil.
