Gulf drilling doubles assets in 3 years

March 06, 2014 - 12:16:36 pm

DOHA: Gulf Drilling International (GDI), a subsidiary of Qatar's largest service group Gulf International Services (Qatar Exchange: GISS), has doubled its operations from nine to 18 in three years, the company announced Thursday.

In a media statement today, GDI said, "In the span of just three years, the number of operations being conducted by GDI will have doubled from nine to eighteen." 

"All of these assets are expected to be under contract in 2014, keeping the company's utilization rate at 100 percent."

The company is further expanding this year by starting operations of three more assets. 

The assets include a high specification jack-up rig in Dukhan. 

It is under construction in Singapore and QP will use once it is delivered in Q4 of 2104.

The company is further expanding this year with starting operations of three more assets. 

The assets include a high specification jack-up rig in Dukhan. 

It is under construction in Singapore and QP will use once it is delivered in the fourth quarter of 2104.

A new accommodation lift-boat, Rumailah, under construction in Abu Dhabi will be used by Maersk Oil Qatar when it is delivered in the second quarter of 2014.

A conventional jack-up rig, Msheireb, acquired earlier this year in January, is being refurbished in Ras Laffan. 

Occidental Petroleum will use it after it is delivered to them in the second quarter of 2014.

Over the last two years, GDI has added six more operations to its portfolio. 

Set up in May 2004, Qatar's first offshore and onshore drilling company, GDI specializes in the provision of contract land and offshore drilling services to oil and natural gas exploration and production companies.

The drilling company reiterated its commitment to transparency and said it would inform QE any price sensitive information, if it arises. (QNA)

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