Global and Regional MarketsNewsThe Offshore Frontier

Noble drillship secures one-well options offshore Malaysia

Shell has exercised three one-well options on the current Noble Viking drillship contract in Malaysia.

One of these options will be novated to PTT Exploration and Production (PTTEP) for the drilling of the Rotan NFE appraisal well off the coast of Sabah, which is expected to commence in December 2023 with an estimated duration of 21 days. In direct continuation of this well, the Noble Viking will start a six-well drilling campaign with Shell, followed by two additionally exercised one-well options, adding an estimated 90 days to the drilling campaign at the Marjoram Deepwater field off the coast of Sarawak. With that, the Noble Viking is expected to be occupied into Q2 2025.

The estimated total duration of this contract extension is 111 days. The total contract value is approximately $49 million including fees for the use of managed pressure drilling (MPD) on certain wells but excluding integrated services.

“We are excited to extend our great collaboration with these world-class operators in Malaysia on the Noble Viking,” said Blake Denton, SVP of Marketing and Contracts. “This summer, the Noble Tom Prosser will be joining the Noble Viking for contracts with Shell and PTTEP, and we expect that operating two high-spec rigs on long-term contracts in the country will enable us to unlock further efficiencies.”

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