Noble Corporation plc recently announced that its ultra-deepwater drillship called the Noble Tom Madden, has been awarded approximately 6.5 years of additional contract term under the Commercial Enabling Agreement (“CEA”) with ExxonMobil for work offshore Guyana.
Guyana Standard understands that the Noble Tom Madden was previously contracted until mid-February 2024 and the additional term will extend the rig contract to mid-August 2030. The company said that the rig day rate will be updated at least twice per year subject to a scale-based discount and performance bonus under the CEA which also provides ExxonMobil the flexibility to transfer awarded term between other vessels such as the Noble Don Taylor, Noble Bob Douglas, Noble Tom Madden, and Noble Sam Croft.
Robert W. Eifler, President and Chief Executive Officer of Noble Corporation, was keen to note that his company is extremely pleased to further its relationship with ExxonMobil and their partners offshore Guyana. Eilfer said that the award demonstrates the capability of the Commercial Enabling Agreement to align the interests of Noble and ExxonMobil while continuing participation in one of the world’s premier offshore exploration and development opportunities.
In spite of the economic pains brought on by COVID-19, Noble remains one of the leading offshore drilling contractors for the oil and gas industry. It owns and operates one of the most modern, versatile and technically advanced fleets in the offshore drilling industry. It also performs, through its subsidiaries, contract drilling services with a fleet of 24 offshore drilling units, consisting of 12 drillships and semisubmersibles and 12 jackups, focused largely on ultra-deepwater and high-specification jackup drilling opportunities in both established and emerging regions worldwide.