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Noble Corporation
                                       NYSE: NE




 Challenges on the environmental management
 of remote operations – Benefits of the use of
 statistical e-reporting tools
 Franco Marques
                                    04 October 2006
Forward Looking Statement
                                                              NYSE: NE



 This presentation contains “forward-looking statements” about our
 business, financial performance and prospects. Statements about
 our plans, intentions, expectations, beliefs, estimates, predictions
 or similar expressions for the future are forward-looking
 statements. We cannot assure you that the outcomes of these
 forward-looking statements will be realized. Various factors could
 cause actual results to differ materially. We discuss these factors,
 including risks and uncertainties, from time to time in our SEC
 filings. The Company disclaims any duty to update the information
 presented here. The material presented is copyrighted by the
 Company and cannot be printed, recorded or rebroadcast without
 our express written consent. We have attached a reconciliation to
 GAAP of any non-GAAP measures appearing in this presentation.
 Additional information about Noble Corporation is available on our
 website at www.noblecorp.com.



                                                                         2
CHALLENGES to Environmental
   Managers                                               NYSE: NE




       Access to remote operations on a routine
        basis.

       Time from offshore personnel to dedicate
        to environmental reporting.

       Keep the momentum towards continuous
        improvement of the Environmental
        Management System

Note: See Forward Looking Statement Disclaimer – Page 2              3
Greenhouse Gases Emissions
                                                          NYSE: NE




Note: See Forward Looking Statement Disclaimer – Page 2              4
Greenhouse Gases Emissions
                                                          NYSE: NE




Note: See Forward Looking Statement Disclaimer – Page 2              5
Refrigerant Gases Emissions
                                                          NYSE: NE




Note: See Forward Looking Statement Disclaimer – Page 2              6
Refrigerant gases emissions
                                                                                NYSE: NE



                                                Total gas spilled 2005



                                                      NRH
                                                       5%           NAW
                                           NLB
                                           14%                      24%



                                    NPvE
                                     8%

                                       NK
                                      10%                                NTvL
                                                                         23%
                                            NJR
                                            4%              NBW
                                                             5%
                                                 NGS
                                                 7%
Note: See Forward Looking Statement Disclaimer – Page 2                                    7
Halon Management
                                                          NYSE: NE




Note: See Forward Looking Statement Disclaimer – Page 2              8
Halon Management
                                                                                                 NYSE: NE




                                            Halon Stock 2005

                                                                          Total stock: 7,760.25 Kg



                  Total in passive stock,
                      2227.15, 27%




                                                               Total in active stock ,
                                                                  5,934.10, 73%




Note: See Forward Looking Statement Disclaimer – Page 2                                                     9
Deck Drainage Discharges
                                                                                                                NYSE: NE



                           2003 Total volume discharged   2004 Total volume discharged   2005 Total volume discharged


                 8,000

                 7,000

                 6,000

                 5,000
        Liters




                 4,000

                 3,000

                 2,000

                 1,000

                    0
                         NAW         NBW         NGS           NJR          NK           NPVE        NLB         NRH

                                                                     Rigs


Note: See Forward Looking Statement Disclaimer – Page 2                                                                    10
Deck Drainage Discharges
                                                                                             NYSE: NE




                                    Average ppm discharge per rig

            25


            20


            15                                                                           Average ppm per rig
      ppm




                                                                                         Average ppm per rig
            10                                                                           Average ppm per rig



             5


             0
                  NAW        NBW        NGS         NJR          NK   NPVE   NLB   NRH

                                                          Rigs

Note: See Forward Looking Statement Disclaimer – Page 2                                                        11
Noble Deck Oil and Water
   Separator                                                                     NYSE: NE



                                                          Adequate to offshore use
                                                          Adequate to OBM separation
                                                          Easy to clean
                                                          On line spectrometre
                                                          On line flowmeter




Note: See Forward Looking Statement Disclaimer – Page 2                                     12
Bilges Discharges
                                                                                                             NYSE: NE



                                                 Bilges Discharge - total

                 5,000
                 4,500
                 4,000
                 3,500
                 3,000
        Liters




                 2,500
                 2,000
                 1,500
                 1,000
                  500
                    0
                         NAW       NTvL        NBW        NGS        NJR        NK        NPVE        NLB        NRH

                                                                   Rigs

                          2003 Total volume discharged    2004 Total volume discharged   2005 Total volume discharged


Note: See Forward Looking Statement Disclaimer – Page 2                                                                 13
OSPAR Chemicals Release
                                                          NYSE: NE




Note: See Forward Looking Statement Disclaimer – Page 2              14
OSPAR Chemicals Release
                                                                                                                             NYSE: NE


                    Aprox quantity of dope discharged per 1000 ft drilled (in Kg)

    0.0160


    0.0140


    0.0120


    0.0100


    0.0080


    0.0060


    0.0040


    0.0020


    0.0000
             2004   2005   2004   2005   2004   2005   2004   2005   2004   2005   2004   2005   2004   2005   2004   2005    2004   2005

               NAW           NBW           NTVL           NJR           NGS          NPVE           NK            NLB            NRH



Note: See Forward Looking Statement Disclaimer – Page 2                                                                                     15
OSPAR Chemicals Released
                                                                                             NYSE: NE



                                     Quantity of rig wash discharged in litres

      35000

      30000

      25000

      20000

      15000

      10000

       5000

           0
               2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005
                  NAW          NBW         NTVL           NJR   NGS   NPVE   NK        NLB       NRH


Note: See Forward Looking Statement Disclaimer – Page 2                                                    16
Transferred Wastes
                                                          NYSE: NE




Note: See Forward Looking Statement Disclaimer – Page 2              17
Transferred Wastes
                                                                                                                                               NYSE: NE


                                                                           NRH Comparizon to Avg

                           O r no sp cif ie
                            the n e        d


               W te Dirty/Co m te (+ 0p m
                a r         nta ina d 4 p )


                              Electricre te
                                        la d


                              C m nt Re
                               e e     turns


                                      H se
                                       o s


                              Co
                               o kingG ase
                                      re


                                    H lif ue
                                     e      l


                                       Wo
                                        od


                            Plastica Rub e
                                    nd  br


                                      M ta
                                       e l


                                      G ss
                                       la


                          Pa e a ca b ard
                            p r nd rd o


                       O (no e ine inDrum
                        il  n ng )       s


                                   Eng o
                                      ine il                                                                                                    Avg
                   C m l D s/Ca -e pty
                    he ica rum ns m


                    Che ica S cksa Bigb g
                       m l a      nd   as
                                                                                                                                                NRH
              Oil/G a /Do eD s/Ca -e p
                   re se p rum   ns m ty


                                  O Filters
                                   il


                                   O Ra s
                                    ily g


                                   Ba rie
                                     tte s


                          M d l a sa ry
                           e ica nd nita


                             Fluo sce tub s
                                 re nt e


                     Ae so C ns-use &e p
                       ro l a      d m ty


                         Pa Chip
                           int  ping / G
                                    s rit


                      Pa Tins/Ca
                        int     ns/Brushes


                             Pa a thinne
                               int nd   r


                 Foo re a / Fo dco m te
                    d m ins   o nta ina d


                                    G ne l
                                     e ra
                                            0




                                                10,000




                                                                               40,000




                                                                                                          70,000




                                                                                                                   80,000




                                                                                                                                     100,000
                                                         20,000




                                                                  30,000




                                                                                        50,000




                                                                                                 60,000




                                                                                                                            90,000
                                                                                        Kg


Note: See Forward Looking Statement Disclaimer – Page 2                                                                                                   18
Transferred Wastes
                                                                                              NYSE: NE



                                                                Oily Rags   Avg

       30,000


       25,000


       20,000


       15,000


       10,000


        5,000


             0
                   NPvE         NTvL         NK           NBW       NAW     NLB   NJR   NRH       NGS



Note: See Forward Looking Statement Disclaimer – Page 2                                                  19
Transferred Wastes
                                                                                                NYSE: NE



                                                    Aerosol Cans - used & empty   Avg

        500

        450

        400

        350

        300

        250

        200

        150

        100

         50

           0
                 NPvE         NTvL         NK             NBW    NAW        NLB     NJR   NRH      NGS



Note: See Forward Looking Statement Disclaimer – Page 2                                                    20
Transferred Wastes
                                                          NYSE: NE




            CONSTRAINTS:


       Some operators supply boat and onshore
        system of waste management not
        adequate to ISO 14001 Certified Drilling
        Contractor’s requirements.

       No difference in cost from segregated to
        non-segregated waste


Note: See Forward Looking Statement Disclaimer – Page 2              21
CONCLUSION
                                                          NYSE: NE




                    STATISTICAL DATA, IF RELIABLE
                     AND ACCURATE, CAN BE AN
                     IMPORTANT TOOL IN THE
                     CORRECT MANAGEMENT OF THE
                     IMPROVEMENT OF OFFSHORE
                     ENVIRONMENTAL MANAGEMENT
                     SYSTEMS



Note: See Forward Looking Statement Disclaimer – Page 2              22

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2006 IADC HSE Amsterdam Environmental E Statistics

  • 1. Noble Corporation NYSE: NE Challenges on the environmental management of remote operations – Benefits of the use of statistical e-reporting tools Franco Marques 04 October 2006
  • 2. Forward Looking Statement NYSE: NE This presentation contains “forward-looking statements” about our business, financial performance and prospects. Statements about our plans, intentions, expectations, beliefs, estimates, predictions or similar expressions for the future are forward-looking statements. We cannot assure you that the outcomes of these forward-looking statements will be realized. Various factors could cause actual results to differ materially. We discuss these factors, including risks and uncertainties, from time to time in our SEC filings. The Company disclaims any duty to update the information presented here. The material presented is copyrighted by the Company and cannot be printed, recorded or rebroadcast without our express written consent. We have attached a reconciliation to GAAP of any non-GAAP measures appearing in this presentation. Additional information about Noble Corporation is available on our website at www.noblecorp.com. 2
  • 3. CHALLENGES to Environmental Managers NYSE: NE  Access to remote operations on a routine basis.  Time from offshore personnel to dedicate to environmental reporting.  Keep the momentum towards continuous improvement of the Environmental Management System Note: See Forward Looking Statement Disclaimer – Page 2 3
  • 4. Greenhouse Gases Emissions NYSE: NE Note: See Forward Looking Statement Disclaimer – Page 2 4
  • 5. Greenhouse Gases Emissions NYSE: NE Note: See Forward Looking Statement Disclaimer – Page 2 5
  • 6. Refrigerant Gases Emissions NYSE: NE Note: See Forward Looking Statement Disclaimer – Page 2 6
  • 7. Refrigerant gases emissions NYSE: NE Total gas spilled 2005 NRH 5% NAW NLB 14% 24% NPvE 8% NK 10% NTvL 23% NJR 4% NBW 5% NGS 7% Note: See Forward Looking Statement Disclaimer – Page 2 7
  • 8. Halon Management NYSE: NE Note: See Forward Looking Statement Disclaimer – Page 2 8
  • 9. Halon Management NYSE: NE Halon Stock 2005 Total stock: 7,760.25 Kg Total in passive stock, 2227.15, 27% Total in active stock , 5,934.10, 73% Note: See Forward Looking Statement Disclaimer – Page 2 9
  • 10. Deck Drainage Discharges NYSE: NE 2003 Total volume discharged 2004 Total volume discharged 2005 Total volume discharged 8,000 7,000 6,000 5,000 Liters 4,000 3,000 2,000 1,000 0 NAW NBW NGS NJR NK NPVE NLB NRH Rigs Note: See Forward Looking Statement Disclaimer – Page 2 10
  • 11. Deck Drainage Discharges NYSE: NE Average ppm discharge per rig 25 20 15 Average ppm per rig ppm Average ppm per rig 10 Average ppm per rig 5 0 NAW NBW NGS NJR NK NPVE NLB NRH Rigs Note: See Forward Looking Statement Disclaimer – Page 2 11
  • 12. Noble Deck Oil and Water Separator NYSE: NE Adequate to offshore use Adequate to OBM separation Easy to clean On line spectrometre On line flowmeter Note: See Forward Looking Statement Disclaimer – Page 2 12
  • 13. Bilges Discharges NYSE: NE Bilges Discharge - total 5,000 4,500 4,000 3,500 3,000 Liters 2,500 2,000 1,500 1,000 500 0 NAW NTvL NBW NGS NJR NK NPVE NLB NRH Rigs 2003 Total volume discharged 2004 Total volume discharged 2005 Total volume discharged Note: See Forward Looking Statement Disclaimer – Page 2 13
  • 14. OSPAR Chemicals Release NYSE: NE Note: See Forward Looking Statement Disclaimer – Page 2 14
  • 15. OSPAR Chemicals Release NYSE: NE Aprox quantity of dope discharged per 1000 ft drilled (in Kg) 0.0160 0.0140 0.0120 0.0100 0.0080 0.0060 0.0040 0.0020 0.0000 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 NAW NBW NTVL NJR NGS NPVE NK NLB NRH Note: See Forward Looking Statement Disclaimer – Page 2 15
  • 16. OSPAR Chemicals Released NYSE: NE Quantity of rig wash discharged in litres 35000 30000 25000 20000 15000 10000 5000 0 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 NAW NBW NTVL NJR NGS NPVE NK NLB NRH Note: See Forward Looking Statement Disclaimer – Page 2 16
  • 17. Transferred Wastes NYSE: NE Note: See Forward Looking Statement Disclaimer – Page 2 17
  • 18. Transferred Wastes NYSE: NE NRH Comparizon to Avg O r no sp cif ie the n e d W te Dirty/Co m te (+ 0p m a r nta ina d 4 p ) Electricre te la d C m nt Re e e turns H se o s Co o kingG ase re H lif ue e l Wo od Plastica Rub e nd br M ta e l G ss la Pa e a ca b ard p r nd rd o O (no e ine inDrum il n ng ) s Eng o ine il Avg C m l D s/Ca -e pty he ica rum ns m Che ica S cksa Bigb g m l a nd as NRH Oil/G a /Do eD s/Ca -e p re se p rum ns m ty O Filters il O Ra s ily g Ba rie tte s M d l a sa ry e ica nd nita Fluo sce tub s re nt e Ae so C ns-use &e p ro l a d m ty Pa Chip int ping / G s rit Pa Tins/Ca int ns/Brushes Pa a thinne int nd r Foo re a / Fo dco m te d m ins o nta ina d G ne l e ra 0 10,000 40,000 70,000 80,000 100,000 20,000 30,000 50,000 60,000 90,000 Kg Note: See Forward Looking Statement Disclaimer – Page 2 18
  • 19. Transferred Wastes NYSE: NE Oily Rags Avg 30,000 25,000 20,000 15,000 10,000 5,000 0 NPvE NTvL NK NBW NAW NLB NJR NRH NGS Note: See Forward Looking Statement Disclaimer – Page 2 19
  • 20. Transferred Wastes NYSE: NE Aerosol Cans - used & empty Avg 500 450 400 350 300 250 200 150 100 50 0 NPvE NTvL NK NBW NAW NLB NJR NRH NGS Note: See Forward Looking Statement Disclaimer – Page 2 20
  • 21. Transferred Wastes NYSE: NE CONSTRAINTS:  Some operators supply boat and onshore system of waste management not adequate to ISO 14001 Certified Drilling Contractor’s requirements.  No difference in cost from segregated to non-segregated waste Note: See Forward Looking Statement Disclaimer – Page 2 21
  • 22. CONCLUSION NYSE: NE  STATISTICAL DATA, IF RELIABLE AND ACCURATE, CAN BE AN IMPORTANT TOOL IN THE CORRECT MANAGEMENT OF THE IMPROVEMENT OF OFFSHORE ENVIRONMENTAL MANAGEMENT SYSTEMS Note: See Forward Looking Statement Disclaimer – Page 2 22