Prime Energy, which operates the Malampaya gas field off the Philippines, will pay $69.9 million to Noble Corporation to hire its Viking drillship for a three-well contract starting in the second quarter 2025 once the driller finishes its current commitments in Malaysia. 

The firm 140-day contract equates to a day rate of $499,000. There is also a one-well option estimated at 20 days, valued at $10.98 million or $549,000 per day. The values exclude additional fees for managed pressure drilling services, mobilisation and demobilisation fees. 

The three wells will be drilled in the Camago and Malampaya East fields, with the additional option covering Bagong Pagasa.

Primary Energy Resources Development acquired Shell's operated stake in Malampaya in late 2022.