Noble Corporation
| Company type | Public limited company |
|---|---|
| Industry | Offshore drilling services |
| Predecessor | Noble Drilling Corporation |
| Founded | 1985 |
| Headquarters | London , United Kingdom |
Area served | Global |
| Products | Offshore drilling units (drillships, semi-submersible platforms, jackup rigs) |
| Parent | Noble Corporation plc |
Noble Corporation plc is an offshore drilling service provider headquartered in London, with a subsidiary incorporated in the Cayman Islands. It serves as the successor entity to Noble Drilling Corporation.
The firm manages a fleet of 24 drilling units, which consists of eight drillships, four semi-submersible platforms, and twelve jackup rigs.
During 2020, its principal customers were ExxonMobil (accounting for 26.6% of revenue), Shell (21.7%), Equinor (14.3%), and Saudi Aramco (13.8%).
History
Established in 1985 following a spin-off from Noble Drilling Corporation, the company underwent restructuring in 2002 by relocating its legal domicile to the Cayman Islands and designating Noble Corporation as the parent holding entity.
In 2009, it transferred its headquarters to Switzerland aiming to reduce U.S. tax liabilities linked to Caribbean tax jurisdictions, before moving again to the United Kingdom in 2013.
The acquisition of Frontier Drilling for $2.16 billion in 2010 enabled the company to broaden its offshore drilling operations.
In 2014, Noble distributed its holdings in Paragon Offshore plc to shareholders through a spin-off.
Confronted with financial difficulties, Noble filed for bankruptcy protection in July 2020 and successfully completed its restructuring by February 2021.
April 2021 saw the purchase of Pacific Drilling, which further augmented the company’s drilling fleet.
A merger agreement with Maersk Drilling was announced in November 2021 and finalized on October 3, 2022, resulting in a combined organization valued at £2.6 billion operating under the Noble Corporation brand.
In June 2024, Noble declared a $1.6 billion acquisition deal involving cash and stock with Diamond Offshore Drilling to expand its offshore drilling capabilities.
Accidents and incidents
In 2012, the Noble Discoverer drillship, engaged under contract by Shell, lost its mooring and drifted close to shore; no injuries or environmental harm were reported.
An employee disappearance occurred on the Noble Lloyd Noble drilling rig in 2017.