Noble Corporation Secures $1.3 Billion in New Contracts, Strengthening Offshore Drilling Backlog

Noble Corporation has significantly strengthened its offshore drilling outlook after securing new contract awards for nine rigs, adding approximately $1.3 billion to its contract backlog. The latest awards highlight strong demand for high-specification offshore drilling rigs and reinforce Noble Corporation’s position as a leading offshore drilling contractor in key global markets.

A major highlight of the announcement is Noble Corporation’s strategic entry into the Norwegian floater market. The company was awarded a three-year contract by Aker BP for its Noble GreatWhite semisubmersible drilling rig. Valued at approximately $473 million, the contract marks a key milestone for Noble as it expands operations in the Norwegian Continental Shelf, a region known for its strict safety standards and long-term offshore activity. The deal also strengthens Noble’s relationship with Aker BP, one of the most active operators in the North Sea.

In West Africa, Noble Corporation secured additional work through a two-year drilling contract awarded by an ExxonMobil affiliate. The contract will see the Noble Gerry de Souza drillship operating offshore Nigeria, further reinforcing Noble’s presence in a region with steady offshore exploration and development activity. Nigeria remains a strategic offshore market, and the new award supports long-term utilization of Noble’s modern drillship fleet.

Noble Corporation also received contract extensions for four drillships operating in Guyana under an existing agreement with ExxonMobil. These extensions will keep the rigs contracted through February 2029, providing long-term revenue visibility and underscoring ExxonMobil’s continued confidence in Noble’s operational performance in one of the world’s most active offshore oil and gas developments.

As a result of these new contracts and extensions, Noble Corporation expects that approximately 92% of its 24 marketed floaters will now be under contract, a significant increase from 75% reported in its previous fleet status update. The higher utilization rate improves cash flow stability and positions Noble Corporation to benefit from continued strength in the offshore drilling market, particularly for high-specification floaters.