(MENAFN - Qatar News Agency) Gulf International Services (GIS) confirmed the completion of the acquisition by its drilling joint venture, Gulf Drilling International (GDI), of its eighth jack-up drilling rig, and its imminent mobilisation to Qatar.
The rig has been named Msheireb after a district in the heart of Doha
The rig is being towed to Qatar where she will be prepared with upgrades to provide smooth and seamless duty to its client, Oxy, at the NKOM shipyard
A five year contract for this rig was signed earlier at a total value of QR 865 million, and GDI looks forward to many years of quality service to its valued clients with this rig
GDI's Chief Executive Officer Ibrahim J
Al Othman said: "We are pleased to be receiving the first of two new rigs expected this year
The rig will undergo upgrade work in a shipyard as part of its mobilisation to incorporate client requested equipment and features
GDI's staff and crew have worked hard to enable the smooth transfer of this additional asset. This is another step in our expansion plan to grow our rig fleet and our client portfolio." Gulf Drilling International QSC was incorporated in 2004 as a joint venture between Qatar Petroleum (60%) and Japan Drilling Company (40%)
Subsequent to exercising a share option provision within the joint venture agreement, QP increased its stake to 69.99% and then transferred this shareholding to GIS
GDI has no subsidiaries or associates, and is not party to any subordinate joint venture arrangements.