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Noble Drilling Operating Services A/S
Lyngby Hovedgade 85, 2800 Kgs. Lyngby, CVR 24206998
Industry: Mining support service activities
Company type
Limited Corporation
Established
1986
Size
Micro
Employees
-
Revenue
1,273
MDKK
Gross profit
50
MDKK
Operating Profit (EBIT)
50
MDKK
Profit for the year
-6,617,457
DKK
Equity
224
MDKK
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Rank Profit for the year
Rank in industry
72/76
"Lowest 10%"
Rank in Denmark
339,030/345,354
"Lowest 10%"
Top management top 3
Steffen Dalgaard Andersen 13 | Director |
Board top 3
Claus Bachmann 2 | Boardmember |
Steffen Dalgaard Andersen 13 | Boardmember |
Tine Østergaard Hansen 12 | Boardmember |
Legal owners top 3
100% | Noble Drilling A/S | DK |
Rights certificate
Selskabet tegnes af to medlemmer af bestyrelsen i forening eller af et medlem af bestyrelsen i forening med en direktør.
Company information based on CVR
Name | Noble Drilling Operating Services A/S |
Alternate names | Maersk Contractors (Far East) Ltd. A/S, Maersk Drilling (Far East) Ltd. Aps Show more |
CVR | 24206998 |
Address | Lyngby Hovedgade 85, 2800 Kgs. Lyngby |
Industry | Support activities for petroleum and natural gas mining [091000] |
Established | 09-12-1986 (36 yr) |
First financial statement period | 09-12-1986 to 31-12-1987 |
Company type | Limited Corporation |
Number of employees | - |
Advertising protection | No |
Auditor | Pricewaterhousecoopers Statsautoriseret Revisionspartnerselskab since 28-05-2013 |
Financial statement period | 01-01 to 31-12 |
Company capital | 10,300,000 DKK 300,000 DKK (30-08-1987 - 28-04-1999) |
Articles of assoc. last | 03-10-2022 |
Member of industries
- Support activities for petroleum and natural gas miningNACE6 containing 113 comp.
- Support activities for petroleum and natural gas miningNACE3 containing 113 comp.
- Mining support service activitiesNACE2 containing 140 comp.
- Mining and quarryingNACE1 containing 339 comp.
Purpose
Selskabets hovedformål er at drive skibsfart, befragtning og lignende virksomhed, men det har tillige til formål at drive anden transportvirksomhed, handel og industriel virksomhed i ind- og udland, herunder at drive efterforskning og indvindingsvirksomhed efter olie, gas og andre råstoffer i forbindelse hermed, alt indenfor de grænser, bestyrelsen finder rigtige.
Financial Statement
2022 | 2021 | 2020 | |
---|---|---|---|
Currency/unit | 000' DKK | 000' DKK | 000' DKK |
Revenue | 1,272,618 +2% | 1,246,568 +89% | 661,122 +15% |
Gross Profit | 49,592 +26% | 39,404 -56% | 89,598 +50% |
Profit for the year | -6,617 - | 84,164 +6% | 79,774 -10% |
Equity | 224,076 -22% | 287,184 +41% | 203,019 +65% |
Total Assets | 589,675 -28% | 816,216 +89% | 432,320 +55% |
Mangement review
Particular risks
Operating risks
Currency risks
Interest rate risks
Social and personnel matters
Anti-corruption and anti-bribery
Our business depends on the level of activity in the oil and gas industry. Adverse developments affecting the industry, including a decline in the price of oil or gas, reduced demand for oil and gas products and increased regulation of drilling and production, have in the past had and may in the future have a material adverse effect on our business, financial condition and results of operations.
The Company's functional currency is the US Dollar. However, a portion of our expenses are incurred in local currencies. Therefore, when the US Dollar weakens (strengthens) in relation to the currencies of the countries in which we operate, our expenses reported in US Dollars will increase (decrease).
Future cash flows are exposed to risks to the extent that foreign currency expenses exceed revenues denominated in the same foreign currency. To help manage this potential risk, the Company periodically enter into derivative instruments to manage our net exposure to fluctuations in currency exchange rates.
The Company are subject to market risk exposure related to changes in interest rates on borrowings and may be subject to similar exposure on future borrowing arrangements. Future cash flows for financial instruments will fluctuate because of changes in market interest rates.
The Noble Drilling Group mitigates interest rate exposure by entering into fixed rate loans or interest rate swaps at the parent company level whereas individual subsidiaries generally are funded through loans carrying floating interest rates.
For drilling contracts, credit risk is minimised by undertaking a credit assessment of the counterparty prior to entering into the contracts. Depending on creditworthiness, the Company may seek protection in the form of parent company guarantees, prepayments or other types of collateral.
Further the Company has a concentration of customers. This concentration of customers increases the risks associated with any possible termination or nonperformance of contracts, in addition to our exposure to credit risk. If any of these customers were to terminate or fail to perform their obligations under their contracts and the Company were not able to find other customers for the affected drilling units promptly, the financial condition and results of operations could be materially adversely affected.
Noble is first and foremost a people business, focused on acting with integrity and respect, and keeping people safe. With operations globally, Noble recognizes the risk of safety and its responsibility with regard to the impact it has on people on many levels, including employees, partners, customers, and the local communities where we operate.
By maintaining a structured approach and actively pursuing procedural discipline, we maintain our focus on the health, safety, and social wellbeing of our personnel, and support our goal to advance the development and retention of our diverse and talented workforce.
In 2022, Noble carried out three studies on board Noble Venturer, Noble Invincible and Noble Integrator, with the purpose of learning how to increase the safety of operations through positive observation of how the crew adds safety to the work process during normal everyday tasks. The focus of the studies was work in red zones and how this is managed and coordinated.
Results from these studies have been shared amongst crews to foster a learning culture and have also generated a positive response from customers, with feedback garnered that this is the right direction for the industry to move in.
Going forward we will continue to strive to create a workplace that keeps people safe and offers meaningful career opportunities.
Noble is committed to conducting business responsibly, addressing a wide range of components constituting ethical behavior such as anti-competitive behavior, antibribery and corruption controls. With operations globally, Noble recognizes corruption and bribery as a potential risk.
Our commitment to honesty and integrity extends to every aspect of our operations. Noble prohibits bribery in the conduct of all its business, all over the world. Bribery can take many forms, including payments, goods or services provided “in-kind,” and lavish entertainment and gifts. We must comply with all applicable laws against bribery and corruption and to uphold our commitment our policies are regularly communicated to all employees.
Going forward we continue to be committed to conducting business responsibly and prohibit bribery in the conduct of all our business, all over the world.
The Company's income statement for 2022 shows a loss of USD 945 thousand as against a profit of USD 12,019 thousand in 2021. Equity in the Company's balance sheet at 31 December 2022 stood at USD 31,999 thousand as against USD 41,011 thousand at 31 December 2021. The result for the year is lower than management expectations in the annual report for 2021.
The Company's income statement for 2022 shows a loss of USD 945 thousand as against a profit of USD 12,019 thousand in 2021. Equity in the Company's balance sheet at 31 December 2022 stood at USD 31,999 thousand as against USD 41,011 thousand at 31 December 2021. The result for the year is lower than management expectations in the annual report for 2021.
29-06-2023