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Noble Energy in brief

Energizing the World, Bettering People’s Lives.

Established in 1932 to explore the Gulf of Mexico, Noble Energy Inc. (Noble) has remained over 80 years an independent oil company bases in Houston, Texas.

Focusing on the upstream side of the business, Noble operates onshore and offshore in short selection of oil and gas fields:

 – DJ basin of Colorado, the Marcellus Shale of Pennsylvania and West Virginia shale gas in USA

 – Gulf of Mexico in US deepwater

 – Offshore Mediterranean Sea

 – Offshore West Africa

While concentrating its exploration and production activities in few areas, Noble is balancing crude oil and natural gas fields development reducing risks and providing a sustainable and profitable growth to support further projects regardless the commodity cycle and currencies fluctuations.

In the shale gas , Noble operates in the liquid-rich Wattenberg field of the DJ basin and in Marcellus in the wet gas area.

In the Gulf of Mexico, Noble runs four offshore deepwater fields and intents to add new permits for further expansion.

In the East Mediterranean Sea, Noble discovered in 2009, the Tamar natural gas field, 90 kilometers offshore Israel.

Then in 2010, Noble made an even bigger find with the Leviathan reservoir, half way between Israel and Cyprus Island.

Tamar and Leviathan are located in Israel territorial water and contain respectively 9 trillion cubic feet (tcf) and 17 tcf of recoverable reserves of natural gas

In the same Levant Basin, Nobel hit again natural gas in the Cyprus gas field in the Territorial water of the Cyprus Island with again 7 tcf of recoverable reserves

In the short period of two years, Noble increased its recoverable reserves of natural gas by 35 tcf.

In the West Africa, Noble is exploring since 1990s oil and gas fields offshore Equatorial Guinea and Cameroon.

Noble Energy Key Figures

 – 2011 Revenues: $3,76 billion

 – 2010 Revenues: $3,02 billion

 – 2009 Revenues: $2,31 billion

 – 2011 Earnings: $0,45 billion

 – 2010 Earnings: $0,72 billion

 – 2009 Earnings: $(0,13) billion

 – 2013 Capital Expenditure: $3.9 billion

 – 2012 Capital Expenditure: $3.25 billion

 – 2011 Capital Expenditure: $3,02 billion

 – 2010 Capital Expenditure: $2,14 billion

 – 2009 Capital Expenditure: $1,31 billion 

Noble Energy Projects and Business Highlights

For the next five years, Noble is planning 17% compound annual growth rate (CAGR) to reach a production of 540,000 barrels of oil equivalent (boe) per day in 2017.

This growth is boosted by two major developments:

 – The horizontal Niobrara program in the DJ Basin to provide additional 175,000 boe/d by 2017 from a top-tier U.S. oil play where Noble is planning to drill more than 500 horizontal wells per year.

 – The development of the giant Leviathan field offshore Israel has been significantly advanced with the announced agreement in principle with Woodside from Australia, a strategic partner to bring in the joint venture its advanced experience in liquefied natural gas (LNG).

Together with the development of Leviathan, Noble is working on the next phase of the Tamar field based on a floating LNG solution.

If validated at the end of the front end engineering and design (FEED), Noble could replicate it to Leviathan and Cyprus.

In Marcellus, Noble will continue to implement its successful, innovative Marcellus joint venture (JV) to increase production by 55% in 2017 while reducing costs.

In the Gulf of Mexico, Noble is working on the pre-FEED of Gunflint with first production planned in 2015 as subsea tiback or 2017 as standalone platform.

In 2013, Noble will divest non strategic assets in the Gulf of Mexico to finance its growth with a $3.9 billion capital expenditure planned in 2013, representing 20% increase on 2012, net of divestment.

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

 

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