Daily Archives: April 18, 2013

Gulf of Mexico: PXP Hires Noble’s New Drillships for $1.3 Bln

Noble Corporation  today announced that the Company has entered into two three-year term drilling contracts with Plains Exploration & Production Company for the Noble Sam Croft and the Noble Tom Madden, two of Noble’s new ultra-deepwater drillships currently under construction at the Hyundai Heavy Industries Co. Ltd. (HHI) shipyard in Ulsan, South Korea.

The drillships, which are being constructed on a fixed price basis, are expected to be utilized for operations primarily in the U.S. Gulf of Mexico under these contracts.

The Noble Sam Croft is expected to be delivered in the second quarter of 2014, followed closely by the Noble Tom Madden, which is expected to be delivered in second half of 2014. The contracts are expected to commence following mobilization to the U.S. Gulf of Mexico and customer acceptance. Revenues to be generated over the three-year terms are expected to total approximately $693 million per rig, including mobilization fees, representing in excess of $1.3 billion in total potential backlog. With the award of contracts for these two units, all four ultra-deepwater drillships under construction for Noble at HHI are now under contract.

“With the addition of these units to our U.S. Gulf of Mexico fleet, Noble will have one of the most modern and capable fleets in the region, a fact that demonstrates the fundamental change going on across the Company,” noted David W. Williams, Chairman, President and Chief Executive Officer. “At the same time, these contracts provide us with significant additional backlog, while expanding and diversifying our customer base as we grow our relationship with an important new customer.”

The Noble Sam Croft and the Noble Tom Madden are two of the four ultra-deepwater drillships being constructed for Noble by HHI. All four drillships are based on a Hyundai Gusto P10000 hull design, capable of operations in water depths of up to 12,000 feet and offering a variable deck load of 20,000 metric tons. The Noble Sam Croft and Noble Tom Madden will be fully equipped to operate in up to 10,000 feet of water while offering DP-3 station keeping, two complete six-ram BOP systems, multiple parallel activity features that improve overall well construction efficiencies and accommodations for up to 210 personnel. Both rigs also will also be equipped with a 165-ton heave compensated construction cranes to facilitate deployment of subsea production equipment, providing another level of efficiency during field development programs.

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Gulf of Mexico: Balltec to Supply Subsea Mooring Connectors for Tubular Bells Project

Balltec Ltd, Morecambe,UK, has been contracted by Houston Offshore to supply and install 10 off MoorLOK™ subsea mooring connectors for the Tubular Bells project, located in the Mississippi Canyon area of the Gulf of Mexico.

The contract covers the manufacture of 10 off 15,000kN MoorLOK™ connectors for the mooring of the Williams floating production system (FPS), Gulfstar GS1 on the Tubular Bells field at a water depth of 4,500ft. The connectors will be manufactured in accordance with the ABS Guide for the Certification of Offshore Mooring Chain, 2009, and are due to be installed during the first half of 2013.

Martin Bell, Sales and Marketing Director at Balltec Ltd said:

‘Balltec is proud to have been awarded this significant mooring connector contract. The Tubular Bells project has been under development for some time and we are very much looking forward to working with Houston Offshore Engineering and Williams to play our part in bringing this project to first oil.’

Russell Benson, Managing Director, Balltec Ltd said:

‘The award of the Tubular Bells mooring connector package is another significant contract gain in 2012. With Tubular Bells and several other projects due to be completed next year as well as new products ready to be launched, 2013 is going to be another exciting year for Balltec.’

The Balltec MoorLOK™ is a disconnectable, subsea mooring connector designed for the temporary and permanent mooring of floating structures.

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