Page 8 - LatAmOil Week 06 2020

LatAmOil GUYANA/SURINAME LatAmOil
The Noble Bob Douglas drillship (Photo: Noble Corp.)
ExxonMobil arranges to use Noble drillships in Guyana-Suriname basin
NOBLE, a UK-based offshore drilling contrac- tor, has won a contract from the US super-major ExxonMobil for work in the Guyana-Suriname Basin offshore South America.
In a statement dated February 11, Noble said that the two companies had entered into a com- mercial enabling agreement that sets the terms for the ongoing provision of drilling services. The document provides for ExxonMobil to use several of Noble’s ultra-deepwater drillships – namely, the Noble Bob Douglas, the Noble Don Taylor and the Noble Tom Madden – on a con- tinuing basis. It also states that the parties may arrange for the use of other Noble drilling rigs within the framework of the agreement.
ExxonMobil is already working with the Brit- ish company in the Guyana-Suriname Basin. It is using the Noble Bob Douglas vessel for Phase I development drilling at Liza, a field within the Stabroek block offshore Guyana, and has assigned the Noble Don Taylor and the Noble Tom Madden to exploration drilling projects in other sections of Guyana’s offshore zone.
All three of these vessels were built in line with the Gusto P-10000 design. They have been in operation since 2013-2014 and can operate in water depths of up to 3,700 metres. In its state- ment, Noble said the ships had been “equipped with advanced drilling systems and redundant subsea control technology and station-keeping systems.”
As of press time, the parties had not dis- closed the value of the deal. Noble did say, though, that the new agreement “provides for allocation of six additional years, dependent on
future development decisions and government approvals, as well as the potential for incremen- tal contract term, or rigs as required.”
It added: “Concurrent with signing of the agreement, ExxonMobil has awarded 3.5 years of term to be added at the conclusion of each rig’s current contract commitments.” Noble Tom Madden is now due to be operating for another three years and Noble Bob Douglas for another six months, it explained.
Julie J. Robertson, Noble’s chairman, pres- ident and CEO, said that the commercial ena- bling agreement would benefit her company. “The Guyana-Suriname Basin stands as one of the world’s premier offshore exploration and development opportunities,” she said. “Since establishing an operating presence offshore Guyana in March 2018 with the Noble Bob Douglas, we have continued to expand our foot- print in the region.”
She continued: “The commercial enabling agreement with ExxonMobil takes our regional position a step further, as we benefit from mul- ti-year contract visibility and utilisation allo- cated across three of our premium drillships. This attractive commercial model secures cur- rent market pricing dynamics on six-month intervals and important operational econo- mies of scale, and, importantly, the agreement can cover additional Noble drilling rigs. We are honoured 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 drill- ing technology and solutions.” ™
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Week 06 13•February•2020