The deal defines contract terms for the extension of three drillships currently operating for ExxonMobil
UK-based offshore drilling contractor Noble Corporation has signed agreement with oil major ExxonMobil for drilling services in Guyana-Suriname Basin.
Noble said that the deal defines contract terms for the extension of three drillships currently operating for ExxonMobil in Guyana, and potentially add more rigs .
The framework includes the ultra-deepwater drillships Noble Bob Douglas, Noble Tom Madden and Noble Don Taylor that are in use by ExxonMobil in Guyana.
The Noble Tom Madden and Noble Don Taylor drillships are assigned to exploration drilling in Guyana while the Noble Bob Douglas is located on the Liza Phase I field development project.
The three drillships can operate in water depths of up to 12,000ft
Capable of operating in water depths of up to 12,000ft, the three Gusto P-10000 design ultra-deepwater drillships commenced operations during 2013 and 2014.
The rigs feature advanced drilling systems, and redundant subsea control technology and station-keeping systems.
Noble president, CEO, and chairman Julie Robertson said: “The Guyana-Suriname basin stands as one of the world’s premier offshore exploration and development opportunities. Since establishing an operating presence offshore Guyana in March 2018 with the Noble Bob Douglas, we have continued to expand our footprint in the region.
“The commercial enabling agreement with ExxonMobil takes our regional position a step further, as we benefit from multi-year contract visibility and utilization allocated across three of our premium drillships.
“This attractive commercial model secures current market pricing dynamics on six-month intervals and important operational economies of scale, and, importantly, the agreement can cover additional Noble drilling rigs.
“We are honored to strengthen our relationship with ExxonMobil and to have a significant role in this prolific region, which will continue to contribute to the growing need for advanced offshore drilling technology and solutions.”
Recently, ExxonMobil and its partners have increased the recoverable resource base estimate in Guyana to more than eight billion barrels of oil equivalent (boe). The recoverable resource estimate was 6 billion boe in the previous estimates.