Oil and Gas service provider Noble Corporation has acquired two jackup drilling units, the TRIDENT III and the DHABI II, from a subsidiary of Schlumberger for an aggregate purchase price of $95 million in an all cash transaction.
The TRIDENT III is a Marathon LeTourneau 116-C, independent leg, cantilever jackup. The unit is operating in the territorial waters of the United Arab Emirates (UAE) under a long-term contract with Dubai Petroleum Company with a termination date of January 13, 2004.
The DHABI II is a Baker Marine, independent leg, cantilever jackup. The unit is operating in the territorial waters of the UAE under a long-term contract with Abu Dhabi Oil Company (Japan) with a termination date of July 14, 2004.
"This purchase is part of a consistent strategy of opportunistic acquisitions that fit the Company's long term strategic goals. The units will be assimilated into our Middle East operations," said Noble’s Chairman and Chief Executive Officer James C. Day.
Noble Corporation is a provider of diversified services for the oil and gas industry. Contract drilling services are performed with the Company's fleet, which, with the above acquisition, will stand at 55 offshore drilling units located in key markets worldwide.
The Company's fleet of floating deepwater units consists of 13 semisubmersibles and three dynamically positioned drillships, seven of which are designed to operate in water depths greater than 5,000 feet.
Currently the Company's premium fleet of 34 independent leg, cantilever jackup rigs includes 21 units that operate in water depths of 300 feet and greater, four of which operate in water depths of 360 feet and greater, and 11 units that operate in water depths up to 250 feet.
In addition, the Company's fleet includes three submersible units. Nine of the Company's units are capable of operating in harsh environments. Approximately two-thirds of the fleet is currently deployed in international markets, principally including the North Sea, Brazil, West Africa, the Middle East, Mexico and India. The Company also provides labor contract drilling services, well site and project management services, and engineering services. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
