Noble Corporation Acquires Jackup

Noble Corporation has purchased the Okha, a 300 feet Levingston 111-S designed independent leg jackup unit, for $29,500,000 in cash. The unit is currently located in Wakkanai, Japan. The company is preparing the unit for mobilization to Dalian New Shipyard in Dalian, China, where it plans to perform certain refurbishment and upgrade work. The company is marketing the unit for operation in the Middle East, India and South East Asia. The unit is currently equipped to operate in 230 feet of water.

James C. Day, Chairman and Chief Executive Officer of Noble Corporation, said, "This announcement is consistent with the stated strategies of the company to make opportunistic acquisitions. The company has several inquiries to utilize the unit prior to year end."