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Noble Corporation to build fourth new USD630m ultra-deepwater drillship.

M2 EQUITYBITES-September 2, 2011-Noble Corporation to build fourth new USD630m ultra-deepwater drillship(C)2011 M2 COMMUNICATIONS http://www.m2.com

Offshore drilling contractor Noble Corporation (NYSE:NE) revealed on Thursday that it has exercised its option for the construction of a fourth ultra-deep water drill ship this year.

This agreement was initiated between the company's subsidiary and Hyundai Heavy Industries Co Ltd (HHI).

Subject to the parties executing an agreed form of construction contract, the additional ultra-deep water drill ship will be constructed on a fixed price basis at HHI's shipyard in Ulsan, Korea with expected delivery from the shipyard during the second half of 2014.

The shipyard delivery cost is expected to be USD630m and includes the turnkey construction contract, furnished equipment, project management and spares and is designed for operations in waters of up to 12,000 feet.

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Publication:M2 EquityBites (EQB)
Date:Sep 2, 2011
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