Noble Corporation, which specializes in offshore drilling, has received a new order for its drillship, which is heading to Philippine waters to begin a series of drillings in the Malampaya-Camago field, after completing its current operations with Shell in Malaysia.
This new contract, awarded by Prime Energy (Prime Energy Resources Development BV), a subsidiary of Prime Infrastructure Capital Inc. provides for the drilling of three wells by the vessel Noble Viking, with the possibility of adding a fourth well. The Malampaya-Camago field, located offshore the Philippines in Asia, will be the focus of these drilling operations.
Major offshore drilling project in the Philippines
Blake Denton, Noble’s Senior Vice President of Marketing and Contracts, expressed his enthusiasm for collaborating with Prime Energy on this drilling project that aims to strengthen the Philippines’ energy security. Prime Energy manages the Malampaya project, a deepwater gas-fired power generation project, considered one of the most significant industrial projects in the country’s history.
The contract established for the platform has an initial value of $69.9 million, which could increase to $10.98 million if the option for an additional well is exercised. This does not include additional costs for Balanced Pressure Drilling (BDP) services, nor mobilization and demobilization expenses.
Start of operations of Noble Viking
The Noble Viking mission in the Philippines is expected to begin in the second quarter of 2025, directly succeeding the current contract with Sarawak Shell Berhad and Sabah Shell Shell Petroleum Co (SSB/SSPC), Shell’s UK subsidiaries, in Malaysia.
Built in 2013, the Noble Viking drillship has the capacity to accommodate 230 personnel, and is designed to drill to maximum depths of 40,000 feet and operate in water depths of up to 12,000 feet. Noble recently announced, following the release of its third quarter 2023 financial results, the acquisition of new contracts for its fleet, valued at approximately $530 million, including mobilization costs.
As part of its commitment to environmental sustainability, Noble Corporation is focused on minimizing its carbon footprint footprint of its drilling operations by utilizing various decarbonization strategies, including the use of sustainable diesel in its Dutch waters operations.
Noble Corporation’s initiative in the Philippines not only underscores the expansion of offshore drilling operations in Asia, but also reflects a larger effort by the oil industry to align its operations with broader environmental objectives. As the industry moves towards a greener future, integrating sustainable practices into offshore operations becomes a priority, promising a significant impact on reducing carbon emissions globally.
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Source: offshore-energy.biz
Photo: shutterstock
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