Noble Corporation Reports on Initial Survey Following Hurricane Gustav

SUGAR LAND, Texas, Sept. 2 /PRNewswire-FirstCall/ -- Noble Corporation (NYSE: NE) announced today that a preliminary assessment conducted by airplane this morning revealed no apparent damage to the Company's five deepwater units operating in the U.S. Gulf of Mexico. The Company expects to complete a more comprehensive assessment of individual rigs, including the Company's three submersible units, over the next few days. It is anticipated that crew members will begin returning to their assigned rigs later today and that, subject to helicopter and crew boat availability, normal operations will be resuming as soon as possible.

"Our first priority offshore is the safety of our teams," said Noble Chairman, President and Chief Executive Officer David W. Williams. "In a major storm event, our focus turns to safely evacuating our personnel and securing our rigs to protect the environment. Once these priorities are achieved, we can turn our attention to resuming normal operations as quickly as possible."

Noble, in cooperation with its customers, initiated evacuations on August 27 and safely evacuated approximately 630 Company workers, contractors and third-party personnel from its rigs in the Gulf of Mexico prior to the storm's arrival.

Noble Corporation is a leading provider of diversified services for the oil and gas industry. The Company performs contract drilling services with its fleet of 62 mobile offshore drilling units located in key markets worldwide, including the U.S. Gulf of Mexico, Middle East, Mexico, the North Sea, Brazil, West Africa and India. The fleet count includes five rigs under construction. Additional information on Noble Corporation is available via the worldwide web at http://www.noblecorp.com.

This news release may contain "forward-looking statements" about the business, financial performance and prospects of the Company. Statements about the Company's or management's plans, intentions, expectations, beliefs, estimates, predictions, or similar expressions for the future are forward-looking statements. No assurance can be given that the outcomes of these forward-looking statements will be realized, and actual results could differ materially from those expressed as a result of various factors. A discussion of these factors, including risks and uncertainties, is set forth from time to time in the Company's filings with the U.S. Securities and Exchange Commission.