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Noble to drill three wells on Valemon field for Equinor

Equinor has awarded Noble Drilling Norway a contract for drilling three wells on the Valemon field starting summer 2021, using the Noble Lloyd Noble drilling rig. The contract includes an option for drilling one extra well on the Valemon field and 11 wells that are not included in the same license. Noble also received a master frame agreement with Equinor.

The total value of the dayrates for the fixed part of the contract is estimated at around $51 million. Additional costs include integrated services, such as managed pressure drilling, treatment of cuttings and wastewater, running casing and tubing, rig modifications, as well as mobilization and demobilization.

“We are very pleased with the job this rig has done for us at the Mariner field off the coast of Scotland, in particular the safety culture,” Erik G. Kirkemo, Senior Vice President of Drilling & Well Operations, said. “With strong onboard leadership, they have embedded best practice for safety and have not had any incidents so far in 2020. Through good planning and collaboration, they have achieved strong operational results, close to what we define as a perfect well. We look forward to continuing the collaboration on the Norwegian Continental Shelf, as well.”

Being the world’s tallest jackup rig, the Noble Lloyd Noble can stand on the seabed in up to 150 m of water under tough weather conditions. The Valemon drilling campaign is estimated to take around 230 days.

“Equinor is exploring new ways of working with suppliers to increase efficiency and create value together,” Peggy Krantz-Underland, Equinor’s Chief Procurement Officer, said. “Long-term collaboration with suppliers who deliver on our expectations is an important element in that respect. This way we reward safe and efficient deliveries and keep building on experience and improvement results achieved in past projects.”

The contract is subject to the rig receiving an acknowledgement of compliance from the Petroleum Safety Authority Norway.

The partners of the Valemon license are Equinor (66.78%, operator), Petoro (30%) and Shell (3.22%).

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