Noble said after market close on Tuesday that its board of directors had approved plans to split into two separate companies, with the spun off unit taking charge of the "standard-specification" rigs, including five drillships, three semisubmersibles and 34 jack-ups. It will also own two stacked submersibles and one stacked floating production, storage and offloading vessel.

The New York-listed company would own and operate the high-spec rigs, including 20 floaters and 15 jack-ups.

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