Noble buys jack-up rig for $29.5M - July 04, 2004

Providing coverage of Alaska and northern Canada's oil and gas industryJuly 2004

Vol. 9, No. 27

Week of July 04, 2004

Noble buys jack-up rig for $29.5M

Ray Tyson

Petroleum News Houston correspondent

Noble Corp. said one of its subsidiaries has purchased the Okhi, a 300-foot Levingston 111-S designed independent leg jack-up rig, for $29.5 million in cash.

The unit is currently in Wakkanai, Japan, and is being prepared for mobilization to Dalian New Shipyard in Dalian, China, where it will undergo refurbishment and upgrade work, Noble said June 25.

The company said it is marketing the rig for operation in the Middle East, India and Southeast Asia. The unit is being equipped to operate in 230 feet of water.

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