Noble acquires newbuild Paxocean jackup for Middle East contract

Noble acquires newbuild Paxocean jackup for Middle East contract

UK-headquartered offshore driller Noble Corporation has acquired a Gusto MSC CJ46 design jackup rig from PaxOcean Group, and will use it for a new drilling contract in the Middle East.

Noble is paying $93.75m for the rig, with $33.75m being paid in cash while the remaining $60m is being financed by PaxOcean, part of Malaysia’s Kuok Group.

Built at the PaxOcean Graha shipyard in Batam, Indonesia, the rig will be named Noble Johnny Whistine and will be on contract in the Middle East from early next year for a firm period of three years, with an additional one-year option available to the unnamed client.

Julie Robertson, chairman, president and CEO of Noble Corporation, commented: “With our premium jackup rig fleet fully committed through late-2018, and further evidence of rising jackup demand into 2019, we remain focused on growth opportunities that reinforce our competitive position. This attractive acquisition of a proven and highly versatile jackup design will provide us with a near term contract commitment and future opportunities where growing customer demand is evident.”

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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