Noble Corporation announces operator's commitment for two F&G JU-2000E jackups

Offshore staff

Noble Corp. has received a letter of intent from Shell E and P Offshore Services B.V. to provide two new F&G JU-2000E enhanced premium jackup drilling rigs to be constructed by China Shipbuilding & Offshore International Co., Ltd./Dalian New Shipbuilding Heavy Industry Co., Ltd in Dalian, China.

The Shell commitment includes drilling contracts with a primary term of two years for each rig. Shell will have five one-year contract extension options for each rig.

The F&G JU-2000E is a high specification Friede & Goldman designed jackup rig with a 75 ft cantilever reach, rated water depth of 400 ft, and rated drilling depth of 30,000 ft. The F&G JU-2000E is also a harsh environment design rig capable of operating in the North Sea. An indirect subsidiary of the company, Noble Drilling Holding LLC, has entered into contracts with DNS for the construction of the two jackups. Based on its contracts with DNS, Noble expects delivery of the first rig in 2007 at a delivered price of $153.4 million and delivery of the second rig in 2008 at a total of $156.4 million.

08/05/05