Noble Sam Croft contracted as fifth drillship for Guyana’s world-class Stabroek Block

The Noble Sam Croft has been contracted by ExxonMobil as the fifth drill ship for Guyana’s Stabroek Block following the signing of a one-year contract with international drilling contractors Noble Corporation.

Noble’s CEO Julie J. Robertson made the disclosure on Thursday during the company’s fourth quarter 2019 earnings call. The Noble Sam Croft drillship will arrive in Guyana in the third quarter of 2020 after completing work with Apache in neighbouring Suriname.

Partner in the Stabroek Block Hess Corporation had confirmed during the announcement of the 16th discovery at the Uaru well in Guyana in January 2020, that a fifth drillship will be added to the prolific Stabroek Block Offshore the only English-speaking country in South America later this year.

“Four other drillships in Guyana continue to explore and appraise new resources as well as develop the resources within approved projects,” Hess Corporation said in a press release in January.

ExxonMobil and Noble Corporation recently signed a Commercial Enabling Agreement (CEA) for multi-year drilling activities in the Guyana-Suriname basin which is the hottest exploration spot in the world currently.

“The previously reported CEA with ExxonMobil enhances the Company’s presence in the Guyana-Suriname basin, with multi-year contract visibility, strong fleet utilization, and important economies of scale and logistical savings…the agreement includes an attractive commercial model and deepens Noble’s relationship with a valued client, while positioning the Company for the possibility of further expansion in the basin,” Noble said in its 2019 4th Quarter earnings report Thursday.

According to Noble Corp., the addition of the Noble Sam Croft increases the total rig years awarded under the CEA to 4.5, with six additional years dependent on future development decisions and government approvals. At December 31, 2019, seven of the Company’s nine active floating rigs remained under contract.

Source: guyanapetroleumdigest.ca