Noble ( NE) exercised an option to buy a premium jackup drilling unit for $32.9 million.

The Sugar Land, Texas, oil services giant said it agreed to buy the Maersk Viking from an A.P. Moeller unit. Last June, the company paid $15 million to acquire the call option, putting the total price of the jackup at $47.9 million. The company will rename the unit Noble Cees van Diemen.

The Modec 300C, independent leg, cantilever jackup is currently in the territorial waters of the United Arab Emirates. Noble said the Noble Cees is scheduled to start an 880-day contract in Qatar in mid-September after an upgrade program.

"We are pleased to be able to exercise the option to purchase this unit, which will be an important contributor to our Middle East operations," said CEO James Day.

On Friday, Noble rose 26 cents to $39.53.

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