Code of Ethics for Chief Executive and Senior Financial Officers

Noble Energy, Inc. (the "Company") is committed to conducting its business in accordance with the highest standards of business ethics and in compliance with all applicable laws, rules and regulations. In particular, the Company is committed to full, accurate and understandable financial disclosure and financial management. This Code of Ethics is applicable to the Company's Chief Executive Officer, Chief Financial Officer, Treasurer, Controllers, Finance Managers, and other employees performing similar functions ("Senior Officers"), and sets forth specific policies to guide Senior Officers in the performance of their duties.

Senior Officers must not only comply with applicable law; they also must engage in and promote honest and ethical conduct and abide by the Company's Code of Business Conduct and other Company policies and procedures that govern the conduct of the Company's business. Senior Officers have leadership responsibilities which include creating a culture of high ethical standards and a commitment to compliance, maintaining a work environment that encourages employees to raise compliance concerns, and promptly addressing those concerns.

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