Help Desk -
9717405332, 9599714297, 9810335381
Email
Password

Noble acquire second newbuild jack-up for Aramco work

Gasoil News - Published on Tue, 19 Feb 2019

Image Source: Hellenic Shipping News
Noble Corporation has exercised an option for the purchase of a second newbuild Gusto MSC CJ46 design jackup rig from the PaxOcean Group for USD 83.75 million. Noble will pay USD 30.1 million of the USD 83.75 million purchase price in cash, with the remainder of the purchase price, or USD 53.6 million, to be seller-financed at a 4.25% interest rate paid in cash and 1.25% paid in kind over the term of the financing. The Company will use existing cash balances for the initial payment and the secured seller-financed amount will be repaid in four years. Like the Noble Johnny Whitstine, which the Company purchased in September 2018 in connection with a Saudi Aramco contract, the newbuild CJ46 design jackup, to be named the Noble Joe Knight, was built at the PaxOcean Graha shipyard in Batam, Indonesia. The rig is built for operations in moderate drilling environments and is capable of operating in water depths of up to 375 feet, with well depths of 30,000 feet. Enhanced drilling capabilities are supported by a modern drilling control system, along with a versatile cantilever skidding system and two blowout preventers.

Following closing of the transaction expected to take place in February 2019, the Noble Joe Knight will be relocated to a shipyard in Singapore for commissioning and final outfitting ahead of the expected commencement of operations during the third quarter of 2019 under a three-year primary term contract, plus a one-year option, with Saudi Aramco.

Source :

Posted By : Rabi Wangkhem on Tue, 19 Feb 2019
Related News from Gasoil segment