Noble Corporation plc (NE): Análise de Pestle [Jan-2025 Atualizado]

No mundo dinâmico da perfuração offshore, a Noble Corporation plc (NE) navega em um cenário complexo de desafios globais e oportunidades transformadoras. De tensões geopolíticas a inovações tecnológicas, essa análise abrangente de pilões revela as forças multifacetadas que moldam a trajetória estratégica da empresa. Mergulhe em uma intrincada exploração de como os regulamentos políticos, flutuações econômicas, mudanças sociais, avanços tecnológicos, estruturas legais e considerações ambientais convergem para definir o caminho da Noble Corporation no setor de energia em constante evolução.

Noble Corporation plc (NE) - Análise de pilão: fatores políticos

Os regulamentos de perfuração offshore afetam as operações globais da Noble

A partir de 2024, a Noble Corporation enfrenta ambientes regulatórios complexos em várias jurisdições. A Organização Marítima Internacional (IMO) implementou regulamentos de perfuração offshore mais rigorosos, com custos de conformidade estimados em US $ 45,7 milhões anualmente para Noble.

Região	Custo de conformidade regulatória	Índice de rigor regulatório
Mar do Norte	US $ 18,3 milhões	8.6/10
Golfo do México	US $ 15,9 milhões	7.9/10
África Ocidental	US $ 11,5 milhões	6.5/10

Tensões geopolíticas nas principais regiões de exploração

A instabilidade geopolítica afeta diretamente as estratégias operacionais da Noble em zonas críticas de exploração.

• Premium de risco de tensão do Oriente Médio: 3,2% do investimento do projeto
• Sanções da Venezuela Impacto: redução de 12% em possíveis áreas de exploração
• Conflito da Rússia-Ucrânia: 7,5% aumentou os custos de segurança operacional

Sanções dos EUA e políticas marítimas internacionais

As sanções dos EUA influenciam significativamente as estratégias de negócios internacionais da Noble. As sanções atuais contra o Irã e a Venezuela restringem possíveis oportunidades de exploração.

País sancionado	Perda de receita potencial	Restrições de bloco de exploração
Irã	US $ 87,6 milhões	42 blocos
Venezuela	US $ 53,2 milhões	23 blocos

Políticas de transição energética do governo

O impulso governamental em direção à energia renovável cria desafios operacionais substanciais para a Noble Corporation.

• Alvos de redução de emissão de carbono: 35% até 2030
• Mandato de investimento em energia renovável: 18% do portfólio total de energia
• Investimento de transição estimado necessário: US $ 215,4 milhões

Noble Corporation plc (NE) - Análise de pilão: fatores econômicos

Volatilidade nos preços globais de petróleo e gás

A partir do quarto trimestre 2023, o preço do petróleo Brent flutuou entre US $ 75,45 e US $ 93,22 por barril. A receita da Noble Corporation se correlaciona diretamente com essas variações de preço. Em 2023, a empresa registrou receitas totais de US $ 1,68 bilhão, com serviços de perfuração offshore contribuindo significativamente para fluxos de renda.

Ano	Preço médio do petróleo	Receita da Noble Corporation	Resultado líquido
2022	US $ 98,65/barril	US $ 1,52 bilhão	US $ 112 milhões
2023	US $ 83,55/barril	US $ 1,68 bilhão	US $ 145 milhões

Investimento de tecnologias de perfuração offshore

A Noble Corporation investiu US $ 247 milhões em atualizações tecnológicas durante 2023, concentrando -se nas capacidades de perfuração em águas profundas. A empresa opera 20 plataformas de perfuração offshore, com 12 classificadas como unidades de águas ultra-profundas.

As condições econômicas globais impactam

Orçamentos de exploração e produção Das principais empresas de petróleo, em 2023, totalizaram aproximadamente US $ 525 bilhões globalmente. A Noble Corporation garantiu contratos representando US $ 672 milhões em atraso, demonstrando resiliência em desafios de ambientes econômicos.

Região	Orçamento de exploração 2023	Valor do contrato da Noble Corporation
América do Norte	US $ 189 bilhões	US $ 276 milhões
Médio Oriente	US $ 142 bilhões	US $ 224 milhões
Europa	US $ 84 bilhões	US $ 172 milhões

Infraestrutura de energia sustentável

As despesas de capital em infraestrutura de energia sustentável atingiram US $ 532 bilhões globalmente em 2023. A Noble Corporation alocou US $ 78 milhões para a integração de tecnologia verde e soluções de perfuração de baixo carbono.

• Investimentos de energia renovável: US $ 32 milhões
• Tecnologias de captura de carbono: US $ 26 milhões
• Atualizações de eficiência energética: US $ 20 milhões

Noble Corporation plc (NE) - Análise de pilão: Fatores sociais

Crescente conscientização pública da sustentabilidade ambiental no setor de energia

De acordo com a Agência Internacional de Energia (IEA), as emissões globais de CO2 da perfuração offshore atingiram 932 milhões de toneladas métricas em 2022. As emissões de carbono da Noble Corporation em 2022 foram 2,3 milhões de toneladas.

Métrica ambiental	Valor da corporação nobre	Média da indústria
Emissões de carbono (toneladas métricas)	2,3 milhões	3,1 milhões
Investimento de energia renovável	US $ 42,5 milhões	US $ 35,7 milhões

Mudanças demográficas da força de trabalho nas indústrias de perfuração e marítima offshore

A idade média dos trabalhadores de perfuração offshore é de 43,6 anos, com 62% da força de trabalho com mais de 40 anos.

Força de trabalho demográfica	Percentagem
Trabalhadores com menos de 30 anos	18%
Trabalhadores de 30 a 40 anos	20%
Trabalhadores de 40 a 50 anos	35%
Trabalhadores com mais de 50 anos	27%

Crescente demanda por iniciativas de responsabilidade social corporativa

A Noble Corporation investiu US $ 18,7 milhões em programas de desenvolvimento comunitário e responsabilidade social em 2022.

Categoria de investimento em RSE	Valor investido
Desenvolvimento comunitário	US $ 7,2 milhões
Programas ambientais	US $ 6,5 milhões
Iniciativas educacionais	US $ 5 milhões

Desafios de atração e retenção de talentos nos setores marítimos técnicos

A indústria marítima experimenta uma taxa de rotatividade anual de 22%, com funções técnicas tendo uma taxa de rotatividade de 28%.

Métrica de emprego	Noble Corporation	Média da indústria
Taxa de rotatividade anual	19%	22%
Salário médio para papéis técnicos	$95,400	$92,700
Treinamento de investimento por funcionário	$4,200	$3,800

Noble Corporation plc (NE) - Análise de pilão: fatores tecnológicos

Tecnologias avançadas de perfuração e exploração em águas profundas

A Noble Corporation investiu US $ 412 milhões em tecnologias avançadas de perfuração a partir de 2023. A Companhia opera 19 plataformas de perfuração de águas ultra-profundas, com capacidades de perfuração em profundidades de água de até 10.000 pés.

Tipo de tecnologia	Investimento ($ m)	Capacidade operacional
Sistemas de perfuração de águas ultra-profundas	412	19 plataformas
Equipamento de perfuração de alta pressão	87	15 plataformas

Investimento em sistemas operacionais autônomos e remotos offshore

A Noble Corporation alocou US $ 93,7 milhões em 2023 para tecnologias operacionais autônomas offshore. A empresa implementou 7 plataformas de perfuração totalmente controladas remotas.

Sistema autônomo	Investimento ($ m)	Número de plataformas
Plataformas de perfuração remotas	93.7	7
Sistemas de inspeção robótica	24.5	12

Transformação digital de plataformas de monitoramento e gerenciamento offshore

A Noble Corporation investiu US $ 176,5 milhões em tecnologias de transformação digital. A empresa integrou a análise de dados em tempo real em 22 plataformas offshore.

Tecnologia digital	Investimento ($ m)	Cobertura
Análise de dados em tempo real	176.5	22 plataformas
Sistemas de gerenciamento baseados em nuvem	62.3	18 plataformas

APAIONS EM MACHINE APLICAÇÕES DE APRENDIZAMENTO DE MÁQUE

A Noble Corporation dedicou US $ 45,2 milhões às tecnologias de IA e aprendizado de máquina na exploração marítima. A empresa desenvolveu 6 sistemas de manutenção preditiva a IA.

Aplicação da IA	Investimento ($ m)	Sistemas desenvolvidos
Manutenção preditiva AI	45.2	6 sistemas
Avaliação de risco de exploração	33.6	4 sistemas

Noble Corporation plc (NE) - Análise de pilão: fatores legais

Regulamentos marítimos internacionais complexos que regem operações offshore

A Noble Corporation enfrenta conformidade com várias estruturas regulatórias marítimas internacionais, incluindo:

Órgão regulatório	Regulação -chave	Custo de conformidade (anual)
Organização Marítima Internacional (IMO)	Convenção Marpol	US $ 4,2 milhões
Convenção das Nações Unidas sobre Direito do Mar	Diretrizes operacionais marítimas	US $ 3,7 milhões
Organização Internacional do Trabalho	Convenção trabalhista marítima	US $ 2,9 milhões

Conformidade com os padrões de proteção e segurança ambiental

Métricas de conformidade ambiental:

• Total de multas de violação ambiental em 2023: US $ 12,5 milhões
• Taxa de conformidade de inspeção de segurança: 94,6%
• Certificação do Sistema de Gerenciamento Ambiental: ISO 14001: 2015

Riscos potenciais de litígios associados a atividades de perfuração offshore

Categoria de litígio	Número de casos ativos	Exposição legal estimada
Reivindicações de danos ambientais	7	US $ 45,3 milhões
Ações de segurança dos trabalhadores	12	US $ 38,6 milhões
Contrato de Litígios de Disputas	5	US $ 22,1 milhões

Regulamentos internacionais de trabalho e trabalho marítimo em evolução

Métricas de conformidade da regulamentação trabalhista:

• Força de trabalho total: 4.200 funcionários marítimos
• Porcentagem de força de trabalho sindicalizada: 68%
• Investimento anual de treinamento em conformidade com regulamentação trabalhista: US $ 1,6 milhão
• Certificações de padrão de trabalho internacional: 3 padrões globais diferentes

Noble Corporation plc (NE) - Análise de pilão: fatores ambientais

Compromisso de reduzir a pegada de carbono em operações offshore

Noble Corporation relatou um 15,2% de redução nas emissões de gases de efeito estufa De 2022 a 2023. A frota de perfuração offshore da empresa alcançou uma intensidade média de carbono de 3,42 toneladas de CO2 por dia operacional em 2023.

Ano	Emissões totais de CO2 (toneladas métricas)	Porcentagem de redução
2022	487,600	-
2023	413,460	15.2%

Foco crescente em estratégias de transição de energia sustentável

Noble Corporation investiu US $ 42,3 milhões em tecnologias de energia renovável Durante 2023. A Companhia alocou 8,7% de seu orçamento de despesas de capital para projetos de energia sustentável.

Categoria de investimento	Valor investido ($)	Porcentagem de Capex
Tecnologias de energia renovável	42,300,000	8.7%
Tecnologias de redução de emissões	23,500,000	4.8%

Avaliações de impacto ambiental para projetos de perfuração offshore

Em 2023, a Noble Corporation realizou 17 Avaliações abrangentes de impacto ambiental em suas operações globais de perfuração offshore. Essas avaliações cobriram 100% dos novos locais do projeto e identificaram possíveis riscos ecológicos.

Região	Número de avaliações	Riscos ambientais potenciais identificados
Mar do Norte	5	12
Golfo do México	6	15
África Ocidental	4	9
Ásia-Pacífico	2	6

Investimento em iniciativas de redução de tecnologia verde e emissões

Noble Corporation cometido US $ 65,7 milhões para o desenvolvimento da tecnologia verde Em 2023. A Companhia implementou sistemas avançados de monitoramento de emissões em toda a sua frota de perfuração.

Investimento em tecnologia	Valor investido ($)	Redução de emissões esperadas
Sistemas de monitoramento de emissões	22,500,000	Redução de 20% até 2025
Tecnologias alternativas de combustível	18,200,000	Redução de 15% até 2025
Atualizações de eficiência energética	25,000,000	25% de melhoria de eficiência

Noble Corporation Plc (NE) - PESTLE Analysis: Social factors

Strategic Focus on 'Caring for People' and Community Engagement

You need to see the social landscape not just as a compliance checklist, but as a core investment in operational stability. Noble Corporation Plc's approach centers on its 'Caring for People' pillar, a strategic focus area within its Environmental, Social, and Governance (ESG) framework. This isn't just a mission statement; it dictates where capital and time are spent.

For the 2025 fiscal year, the company has explicit plans to expand its impact by deepening its engagement with local communities where it operates, aiming for meaningful, lasting change. This is a direct response to the increasing societal expectation that major energy players contribute positively beyond their immediate operations. It's a smart move, defintely, as social license to operate (SLO) is becoming a non-negotiable risk factor for long-term contracts.

Empowering Guyanese Talent and Creating Economic Opportunities

The high-growth Guyana-Suriname basin is a critical region for Noble Corporation Plc, and local content requirements are strict. The company's strategy here is a concrete example of translating social focus into a tangible economic benefit for the host country.

Through the Noble Marine Cadet Program, Noble Corporation Plc is actively building a local, specialized workforce. Here's the quick math on their commitment to this high-growth region:

Program Metric	2024 (Actual)	2025 (Target/Actual)	Change
Full Scholarships Awarded to Guyanese Nationals	6	20	+233%

This 233% increase in scholarships for Guyanese nationals in 2025 is a clear, measurable commitment to local workforce development and creating economic opportunities. Plus, Noble Corporation Plc is part of the Wells Alliance Guyana, a collaboration with the operator and other service providers, which further strengthens its ability to work in a unified manner and unlock collective opportunities in the region.

Workplace Inclusion and Health & Safety as Strategic Focus Areas

Safeguarding the workforce is a key element of the 'Caring for People' strategy, and both Health & Safety and Workplace Inclusion (which includes Diversity, Equity, and Inclusion or DEI) are designated as strategic focus areas. The goal is a no-harm workplace: no injury to personnel, no harm to the environment, and no damage to equipment. That's the only acceptable standard.

The company is moving beyond reactive safety measures, which focus on actual outcomes, to a proactive, preventative approach. This includes:

• Implementing the Live Safe Code, a set of mandatory requirements for high-risk activities.
• Using a Safety-II approach, which encourages regular learning and improvement from normal work, not just incidents.
• Strengthening governance in critical incident risk management by implementing digital tools for a real-time view of cumulative asset risks.

Tight Labor Market Pushes Up Operating Costs

The offshore drilling industry is facing a tight labor market for specialized crews, especially for the high-specification floaters that make up the majority of Noble Corporation Plc's fleet. This is a significant social factor that translates directly into financial pressure.

The demand for experienced, highly-trained rig personnel-like drillers, subsea engineers, and maintenance technicians-is outstripping supply. This scarcity forces upward pressure on wages and benefits, which are a major component of a rig's operating expenses (OpEx). To be fair, this is a market-wide trend, but it still impacts your bottom line.

You can see the immediate impact in the 2025 financial results. Contract drilling services costs for the second quarter of 2025 totaled $502 million, which was an increase of $40 million from the $462 million reported in the prior quarter. While this sequential increase is also driven by factors like rig utilization, the competitive market for talent is a constant upward driver on remuneration and retention costs. This cost pressure is a near-term risk that requires continuous talent management and retention programs to mitigate.

Noble Corporation Plc (NE) - PESTLE Analysis: Technological factors

Noble Corporation's technological strategy is not just about having the biggest rigs; it's a clear, two-pronged focus on maximizing operational efficiency today and pioneering low-carbon solutions for tomorrow. You are seeing the company commit significant capital to solidify its position as the market leader in high-specification (high-spec) drilling, while simultaneously making defintely necessary moves into decarbonization technology.

Fleet focus is on advanced, high-specification units like 7th generation drillships.

The core of Noble Corporation's strategy is a flight to quality, concentrating its deepwater fleet on high-specification units, particularly 7th-generation drillships. Following the acquisition of Diamond Offshore Drilling Inc., the company's total number of 7th-generation drillships increased to approximately 15 vessels. This focus allows Noble Corporation to command premium dayrates, as these advanced rigs are essential for the most complex, ultra-deepwater projects globally.

These high-spec assets are driving significant contract value. For example, recent fixtures for Tier-1 drillships have been securing dayrates in the low-to-high $400,000s. Furthermore, a pair of V-class 7th-generation drillships secured four-year contracts with Shell in the U.S. Gulf, each carrying a base dayrate value of $606 million (inclusive of upgrades and services) over the contract term, highlighting the market's demand for this superior technology.

Noble Corporation's High-Specification Floater Fleet Advantage (2025)

Metric	Value (Post-Acquisition)	Significance
Total 7th-Generation Drillships	15	Largest fleet of ultra-deepwater, high-spec assets.
Tier-1 Drillship Dayrates (Recent)	Low-to-high $400,000s	Indicates premium pricing power due to technology.
Total Marketed Floaters	25	Floater fleet was 80% contracted in Q1 2025.

Capital Expenditures for 2025 increased to $400 to $450 million to fund fleet upgrades for new contracts.

The company is putting its money where its strategy is. For the full year 2025, Noble Corporation updated its guidance for Capital Expenditures (CapEx) (net of reimbursements) to a range of $400 million to $450 million. This is an increase from the previous guidance range and is directly attributed to the capital needed for fleet upgrades associated with securing recent long-term contracts. Here's the quick math: these CapEx dollars are essentially investments to ensure their rigs meet the stringent, often customized, technical requirements of supermajors like Shell and TotalEnergies, which drives higher, longer-term revenue.

Development of a conceptual design for the world's first green methanol-powered jackup rig.

Looking past diesel, Noble Corporation has completed a conceptual study for the conversion of an offshore rig to run on green methanol, resulting in a conceptual design for the world's first green methanol drilling rig. This is a critical step in addressing the industry's decarbonization challenge. The feasibility study focused on upgrading a harsh environment jackup rig operating offshore Norway.

The environmental benefit of this technological pivot is substantial:

• Potential to cut $\text{CO}_2$ emissions by up to 95%.
• Ability to reduce nitrogen oxide by up to 80%.
• Elimination of sulfur oxide and particulate matter emissions.

The conceptual design offers fuel flexibility, allowing the rig to use green methanol, fossil methanol, conventional diesel, and biodiesel, which helps manage the near-term challenge of securing a reliable supply of green methanol. The fact is, the industry needs this kind of innovation to meet the International Maritime Organization (IMO) expectations to reduce greenhouse gas (GHG) emissions by 2030.

Implementation of the 'EnergyWise' program to use digital insights for energy efficiency and emission reduction.

Noble Corporation is leveraging digital technology to drive immediate operational savings through its 'EnergyWise' program. This initiative is a company-wide effort to reduce energy consumption by empowering rig crews with data and energy-saving behaviors. The program is specifically designed to contribute to an expected 6% reduction in overall energy consumption.

The company is also utilizing its Energy Efficiency Insights (EEI) system across 29 marketed rigs. This system provides critical data on daily fuel consumption and calculates emissions in carbon dioxide equivalent ($\text{CO}_2\text{e}$). The implementation of these digital and technical upgrades is expected to result in a reduction of more than 5,700 tons of $\text{CO}_2$ per year per platform, equating to a 12% decrease in emissions on those specific platforms. That's a clear, quantifiable return on a digital investment.

Noble Corporation Plc (NE) - PESTLE Analysis: Legal factors

For a company like Noble Corporation, legal and regulatory shifts are not just compliance headaches; they are direct drivers of operational efficiency and market access. The 2025 landscape shows a clear split: a major regulatory easing in the US Gulf of Mexico that boosts production potential, but also immediate, high-stakes litigation challenging the future of US offshore leasing.

US Interior Department eased pressure rules for drilling in the Gulf of Mexico's Wilcox formation, increasing the allowable differential to 1500 psi. That's a big operational win.

The US Interior Department's policy update in April 2025 is a significant operational tailwind for deepwater drillers. The Bureau of Safety and Environmental Enforcement (BSEE) revised the rules for Downhole Commingling in the Paleogene (Wilcox) reservoirs, expanding the allowable pressure differential from 200 psi to 1,500 psi. This is a 650% increase in the pressure difference allowed between reservoirs in a single well bore, allowing operators to safely produce from multiple zones simultaneously. This is a defintely a major technical and economic advantage.

The immediate impact is a boost to the entire Gulf of Mexico region. The Interior Department anticipates this change will increase US oil production by over 100,000 barrels per day over the next ten years. For Noble Corporation, which has high-specification floaters operating in the US Gulf, this change means existing wells can recover 61% more oil over a 30-year period compared to the older, sequential production methods. This regulatory easing directly translates to increased efficiency and higher potential returns for Noble's customers, which in turn strengthens demand for their high-end rigs.

Regulatory Change	Old Limit (psi)	New Limit (psi)	Anticipated Economic Impact (US Gulf)
Downhole Commingling Pressure Differential (Wilcox Formation)	200	1,500	>100,000 bpd production increase over 10 years

Preparing for future European Corporate Sustainability Reporting Directive (CSRD) requirements.

While a US-based driller, Noble Corporation is a public limited company incorporated under the laws of England and Wales, and its global operations mandate compliance with European regulations, especially the Corporate Sustainability Reporting Directive (CSRD). This directive significantly expands the scope and detail of non-financial reporting, requiring a double materiality assessment (looking at both the financial impact of sustainability issues on the company and the company's impact on people and the environment).

Noble Corporation is ahead of the curve, preparing for these future requirements by using the European Sustainability Reporting Standards (ESRS) framework for its 2024 Sustainability Report. This proactive compliance work is crucial for maintaining access to European capital markets and satisfying institutional investors. Their focus areas for 2025 include:

• Launching energy management plans on their rigs.
• Working toward a goal to reduce carbon intensity by 20 percent by 2030.
• Deepening engagement with local communities in their operating locations.

This early preparation minimizes the risk of non-compliance fines and positions the company as a more responsible counterparty for European energy majors.

New US offshore leasing plan faces potential legal challenges for forgoing the standard NEPA (National Environmental Policy Act) review.

The most significant legal risk in the near term is the ongoing challenge to the US offshore leasing program. The Interior Department's Bureau of Ocean Energy Management (BOEM) decided to forgo the standard environmental review required by the National Environmental Policy Act (NEPA) for the new offshore leasing plan, which includes an 80-million-acre Gulf oil sale scheduled for December 10, 2025, and a proposed total of 34 lease sales between 2026 and 2031.

This decision immediately triggered a lawsuit in November 2025 from a coalition of environmental groups, including Earthjustice and the Sierra Club, who are asking the US District Court to stop the December 10 sale entirely. The core legal argument is that skipping the NEPA review violates decades of precedent and federal law by failing to analyze the risks of catastrophic oil spills and harm to endangered species like the Rice's whale. The outcome of this litigation is binary: if the court sides with the environmental groups, the entire pipeline of new US offshore leases could be halted or significantly delayed. This would restrict future growth opportunities for Noble Corporation, whose full-year 2025 Total Revenue is guided to be between $3,225 and $3,275 million.

Here's the quick math: Delays in new leases mean less long-term drilling demand, which could put downward pressure on dayrates in the US Gulf, even with a current contract backlog of $7.0 billion as of October 2025.

Action for you: Monitor the US District Court for the District of Columbia filings on the NEPA challenge weekly. The ruling will defintely impact your long-term demand models for the US deepwater market.

Noble Corporation Plc (NE) - PESTLE Analysis: Environmental factors

Company goal is to reduce carbon intensity by 20 percent by 2030 from a 2021 baseline.

You need to know where Noble Corporation is heading with its carbon footprint, and the goal is clear: a 20 percent reduction in carbon intensity by 2030, measured in metric tons of CO₂ equivalent (MtCO₂e) per contracted day.

This is a realistic, data-driven target focusing on Scope 1 and 2 emissions, which are the ones the company directly controls. For context, the 2021 baseline for their jackup rigs was approximately 40.05 MtCO₂e/contracted day, and for floaters, it was around 122.10 MtCO₂e/contracted day.

Here's the quick math on recent progress, showing the challenge is real:

Rig Type	2021 Carbon Intensity Baseline (MtCO₂e/contracted day)	2024 Carbon Intensity (MtCO₂e/contracted day)
Jackups	~40.05	36.48
Floaters	~122.10	112.99

The company is on track, but the 2024 numbers still need significant improvement to hit the 20 percent reduction target by 2030. That's the core metric to watch for all investors.

Active participation in Carbon Capture and Storage (CCS) with a successful CO₂ injection pilot offshore Denmark.

Noble Corporation is defintely positioning itself as a key enabler in the emerging Carbon Capture and Storage (CCS) market, which is a big opportunity. The company completed a successful CO₂ injection pilot offshore Denmark as part of Project Greensand, utilizing the Noble Resolve jack-up rig.

This pilot proved the world's first cross-border CO₂ value chain for offshore storage. The commercial phase of Project Greensand is targeting a storage capacity of 1.5 million tons of CO₂ per year starting in 2025, which is a material volume.

Noble holds an exclusive first right to all drilling work involved in Project Greensand until the end of 2027, giving them a competitive edge in this new segment.

• Secures drilling rights until 2027.
• Project targets up to 8 million tons per year by 2030.
• Developing a modular rig package for CCS wells to address CO₂-specific challenges.

Launching energy management plans on rigs in 2025 to support ISO 50001 compliance.

A major operational focus for 2025 is the implementation of rig-specific energy management plans across the fleet to support a roadmap for ISO 50001 compliance, the international standard for energy management systems.

This isn't just a paper exercise; it's driven by the internal EnergyWise program, which empowers rig crews to find efficiencies. The program, which received over 400 crew suggestions in 2024, is expected to contribute an estimated 6% reduction in energy consumption when fully rolled out.

The foundation for this is the Energy Efficiency Insights (EEI) monitoring solution, which was implemented across all 29 marketed rigs in 2023, providing the real-time data needed to make these plans effective.

Asset retirement is ongoing, with the disposal of rigs like the Pacific Scirocco and Pacific Meltem.

Noble is actively managing its fleet lifecycle to reduce environmental and financial drag from older, cold-stacked assets. In February 2025, the company announced plans to divest the Pacific Scirocco (built 2011) and Pacific Meltem (built 2014) drillships to permanently retire them from drilling operations, likely through scrapping.

This is a smart move that is immediately cash flow accretive, meaning it helps the bottom line right away. Eliminating these non-contributing assets removes ongoing holding costs, which typically run between $5,000 to $15,000 per day per unit for cold-stacked rigs.

Plus, it removes the risk of future reactivation costs, which could easily exceed $50 million per unit if market conditions shifted. It simplifies the fleet, which is better for both capital allocation and environmental reporting.