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Signal Completes Upgrade of The Noble Homer Ferrington

Maritime Activity Reports, Inc.

December 7, 2004

Signal International, LLC has completed a major refurbishment and upgrade of Noble Drilling’s Homer Ferrington semi-submersible drilling rig. The work was completed at Signal International’s East Facility in Pascagoula, Miss.

Prefabrication started in February 2004 in anticipation of the rig’s arrival in July. The drill-ready rig departed on schedule and within budget after 109 working days.

The scope of work included:

· Fabrication and installation of fully outfitted main, mid and upper deck extensions

· Fabrication and installation of a forward and aft lifeboat platform

· Fabrication, installation and outfitting of a 42 person, 3 level quarters addition

· Installation of 2 each 60’ center column blisters

· Removal of the existing helideck and replacement with an upgraded new unit

· Total steelwork, included: removals - 200 tons, fabrication - 280 tons, installation - 530 tons

· Scaffolding, containment, blasting and painting under main deck, columns and diagonal braces

· Installation and connection of fourth mud pump

· Provision of full project electrical support (- more -)

· Prefabrication and installation of:

· New riser tensioner system

· Flare boom piping and new flare boom

· Complete zero discharge piping system and misc. piping systems

· Load-out and tie-down of the rig on a heavylift transport vessel Planning, organizing and controlling of the project were executed through a fully integrated (customer/contractor/subcontractor) process. This resulted in the on-time and on-budget delivery of a world-class high-performance mobile offshore drilling unit.

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