Noble Corporation Awarded Contract for Ultra-Deepwater
Drillship Noble Bob Douglas

ZUG, Switzerland, July 12, 2012

Noble Corporation (NYSE: NE) today announced that the Company has entered into a three-year term drilling contract with Anadarko Petroleum Corporation (NYSE: APC) for the Noble Bob Douglas, one of Noble's new ultra-deepwater drillships currently under construction at the Hyundai Heavy Industries Co. Ltd. (HHI) shipyard in Ulsan, South Korea. The drillship, which is being constructed on a fixed price basis, is expected to be utilized for operations primarily in the U.S. Gulf of Mexico.

The Noble Bob Douglas is expected to be delivered in the fourth quarter of 2013. The contract is expected to commence thereafter following mobilization to an initial operating location and client acceptance. Revenues to be generated over the three-year term are expected to total approximately $677 million. The contract also provides for an operating cost escalation provision.

The Noble Bob Douglas is one of four ultra-deepwater drillships being constructed for Noble by HHI. All four drillships are based on a Hyundai Gusto P10000 hull design, capable of operations in water depths of up to 12,000 feet and offering a variable deck load of 20,000 metric tons. The Noble Bob Douglas will be delivered fully equipped to operate in up to 10,000 feet of water while offering DP-3 station keeping, two complete six-ram BOP systems, multiple parallel activity features that improve overall well construction efficiencies and accommodations for up to 210 personnel. The rig will also be equipped with a 165-ton heave compensated construction crane to facilitate deployment of subsea production equipment, providing another level of efficiency during field development programs.

With the award of this contract for the Noble Bob Douglas, two of the Company's four ultra-deepwater drillships under construction at HHI are now under contract. The remaining two uncontracted drillships are scheduled to be delivered from the shipyard in 2014.

About Noble
Noble is a leading offshore drilling contractor for the oil and gas industry. Noble performs, through its subsidiaries, contract drilling services with a fleet of 79 offshore drilling units (including five ultra-deepwater rigs and six jackup drilling rigs currently under construction), located worldwide, including in the U.S. Gulf of Mexico, Mexico, Brazil, the North Sea, the Mediterranean, West Africa, the Middle East, India and the Asian Pacific. Noble's shares are traded on the New York Stock Exchange under the symbol "NE." Additional information on Noble Corporation is available on the Company's Web site at http://www.noblecorp.com.

Noble Corporation press release