Noble, Saudi Aramco in Talks Over Adding More Oil Rigs

DUBAI (Zawya Dow Jones), Feb. 24, 2010

Noble Corp., the third-largest offshore oil and gas rig contractor, is in talks with state-giant Saudi Arabian Oil Co, or Saudi Aramco, over adding more oil rigs, the chief executive of the U.S.-based firm said Tuesday.

The world's largest oil exporter has been talking about adding more rigs, while Brazil's state-controlled firm Petroleo Brasileiro SA wants new rigs, David Williams told reporters on the sidelines of an industry conference in Dubai.

Last year, sources told Zawya Dow Jones that Saudi Arabia was expected to cut the number of oil rigs by as much as 20% until the end of the year amid lower crude output.

In 2008, Saudi Aramco had about 130 offshore and onshore rigs in operation at peak times, the sources said.

Copyright (c) 2010 Dow Jones & Company, Inc.

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