GDI signs contract with Dolphin Energy

July 22, 2014 - 8:13:32 am
Ibrahim J Al Othman, CEO of GDI and Adel Ahmed Albuainain, General Manager, Dolphin Energy at the signing ceremony.

DOHA: Gulf Drilling International Ltd. (GDI), a subsidiary of Gulf International Services (GIS), and Dolphin Energy Limited announced that they have signed a Letter of Award (LOA) covering the provision of jack-up accommodation barge services for a long term requirement. 

GDI will procure a new jack-up accommodation barge for services that are scheduled to commence upon delivery and acceptance of the vessel in the fourth quarter of 2015. The LOA documenting the award was signed by Adel Ahmed Albuainain, General Manager, Dolphin Energy Ltd and Ibrahim J Al Othman, CEO of GDI. 

The new vessel will be the third GDI owned jack-up accommodation barge. GDI took delivery of its recent jack-up accommodation barge, “Rumailah” last month and that vessel has since been placed into service for another client in Qatar. GDI also manages a jack-up accommodation barge for Dolphin Energy. 

Commenting on the signing of the LOA, Adel Ahmed Albuainain said: “In line with Dolphin Energy’s commitment to health, safety and environment (HSE), this contract will minimise risk; no time lost and enhances safety for the offshore operations including shutdowns and maintenance services at DOL 1 and DOL 2. Moreover, securing the jack-up accommodation barge reduces mobilisation costs, eliminating procurement risk and avoiding the market rate fluctuations. We will continue to work hard to make improvements where we can and demonstrate better performance where possible.”

Ibrahim J Al Othman, Chief Executive Officer of GDI, said: “I am pleased to have secured this significant contract with Dolphin Energy as it will broaden our business footprint and enhance our long term profitability.” 

This new jack-up accommodation barge will increase the number of diversified assets in GDI’s fleet to three owned and one managed. In addition to the 3 barges mentioned above, GDI also owns a jack-up accommodation barge that is working for another client in Qatar. These assets complement the current 8 Jack-up rigs and 6 land rigs that GDI is carrying in its fleet for drilling rig services.

The Peninsula

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