Gulf Drilling International (GDI) has bagged another QR1.28bn five-year contract from Qatar Petroleum ( QP ) to provide offshore drilling rig services. The new rig "Dukhan" will be delivered from Keppel Fels Shipyard in Singapore and should start work for QP in offshore Qatar during the fourth quarter of this year.
"We are looking forward to the day when rig Dukhan is placed into operation as it will greatly enhances GDI's profitability and long-term sustainability," its CEO Ibrahim J al-Othman said.
Earlier this month, GDI, a wholly-owned subsidiary of Gulf International Services (GIS), had bagged a contract collectively worth QR1.1bn for providing land rig services to QP .
The 'Dukhan' rig was custom built for GDI with features that enable it to work anywhere in Qatar. It is a high specification hi-tech rig and can accommodate 150 people.
The features include a 15,000 psi choke system for well control and can drill wells through 30000ft and a cantilever that can skid out 75 feet from the edge of the hull to drill wells. Off-line stand building and 7,500 psi mud pumps are another feature that is favored by clients.
"GDI recognizes the value of the partnership and support it receives from QP . Working with QP has granted us the chance to develop our skills, technologies and competencies to be a world-class drilling service company," according to al-Othman.
A company spokesman said GDI has always maintained highest performance and safety standards through the quality of asset and equipment it provides and high competency of crew and staff that operate in a team work environment. Hence, recruitment and training of crew starts well ahead of contract start date to ensure safe and sound operation start-up.
GDI, with an authorized and issued share capital of QR739.6mn, is aiming to enhance its share of the offshore market to 50% by 2015, had early this year said it will operationalize three assets this year and kept options open on acquiring more rigs.
"Looking ahead to 2014, further growth is envisioned with three more assets being placed into operation," said GIS, which had in May this year bought out the 30% equity of Japan Drilling Company to make GDI its fully-owned subsidiary.