GDI awarded new contract by QP valued QR1.2bn

GMT 02:41 2014 Monday ,21 July

Arab Today, arab today GDI awarded new contract by QP valued QR1.2bn

GDI's CEO Ibrahim J. al-Othman
Doha - QNA

Gulf Drilling International Limited (GDI), a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar has announced that they have been awarded a new contract by Qatar Petroleum (QP) for a new hi-spec premium jack-up rig starting in the 2nd quarter in 2016.
The brand new rig, recently named "Halul", will become the 4th jack-up rig in GDI's fleet to be under contract to QP, for an initial term of 5 years and having an estimated contract value of QR1.2 Billion. The other three GDI jack-up rigs under contract to QP are "Al Doha", "Al Zubarah" and "Dukhan". GDI has identified a renowned international shipyard with a rig suitable to QP which will be delivered within the specified time frame and is in the process of finalizing its order, the company said in a press release issued today.
GDI's Chief Executive Officer, Ibrahim J. Al Othman said: "GDI is pleased to have received this important award from QP which will be starting work mid 2016. This new business generated by "Halul" will support our growth plan in 2016, which will in turn support our long term revenue growth".
The key features of the new rig "Halul" will be a 1.5 million pound derrick, 150 man accommodation, 75 foot cantilever outreach, 7,500 horse power mud pumps and other customizations required by QP.
Adding another state of the art rig to GDI's fleet will serve the dual purpose of raising the Company's technical capabilities while reducing the average age of its fleet. GDI's versatility will also be enhanced with four of its six cyber rigs capable of operating anywhere within the offshore areas of the State of Qatar.

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