Total takes Noble drillship for Black Sea work

By Finance

Offshore driller Noble Corporation has been awarded a contract for one of its drillships with the French oil major Total.

Total takes Noble drillship for Black Sea work

In its latest fleet status report on Thursday, Noble said that the 2013-built drillship Noble Globetrotter II has been contracted by Total to work in the Black Sea offshore Bulgaria.

The contract is for one well with an estimated 100-day primary term. It will last from late September 2017 to late December 2017.

The rig’s dayrate has not been disclosed. However, in addition to dayrate for this contract, the rig will also continue to receive the $185,000 per day idle rate throughout the duration of this well and up to 730 days, as part of previously announced contract amendment with Shell for the rig.

To remind, Shell late last year exercised its right to idle the Noble Globetrotter II, which was operating under 10-year term contract, for a period of up to 730 days, starting January 2017. It was agreed for Shell to pay the rate of $185,000 per day during that idle period.

This is not Noble Globetrotter II’s first drilling campaign for Total. Namely, the drillship in May 2016 worked for Total on the first exploration well campaign on the Khan Asparuh Block in the Black Sea. Months later, Total revealed that the well had been an oil discovery.

Source: OffshoreEnergyToday