Drydocks to showcase its innovative projects at Offshore Arabia 2014

Business & Finance

March 3, 2014

Drydocks World & Maritime World, will attend the oil & gas sector’s leading event, the 8th Offshore Arabia 2014 Conference & Exhibition.

The conference is being held under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai from March 3-5, 2014 at the Dubai International Convention Centre, Dubai, UAE.

Understanding the need for specialized services in the rapidly evolving offshore oil & gas and energy sectors, which will see consistent growth till 2035, the company has adopted several measures to serve the offshore oil & gas sectors with best-in-class services. This strategy has seen the facility transform itself into a leading service provider to the offshore oil & gas and energy sectors globally.

“Our efforts have been well-received and we have been successful in implementing several pioneering projects that are essentially the world’s first. Our progression and transition in recent years has been a reflection of the changes in the global maritime industry and we intend to remain current and relevant,” says His Excellency Khamis Juma Buamim, Chairman of Drydocks World & Maritime World.

“We will showcase our recent path-breaking and innovative projects of significant global ramifications at this leading exhibition. Around 50 percent of the company’s revenue today comes from construction projects for the oil & gas and alternative energy sectors. Besides building for the oil and gas industry, Drydocks World has extensive capabilities in carrying out repairs, refurbishment and reactivation of offshore rigs & jack-ups vessels. We have a broad reach within the region having completed major projects in offshore oil & gas for companies operating from various countries in the region including KSA, Qatar, Oman and UAE. Our participation will help in promoting our brand name and securing a larger share of the regional market,” Khamis added.

Drydocks World has in recent times implemented a wide range of world’s first projects for leading global players, that we are implementing – such as building the DolWin beta, which is the world’s largest offshore HVDC GBS platform, the Prelude FLNG turret, which is again the largest turret built ever and is an important component of Shell’s Prelude FLNG project and the subsea oil storage tank for the Solan oil field.

The company also completed the conversion of two AFRAmax tankers into Modular Capture Vessels Eagle Texas and Eagle Louisiana. Owned by Malaysia-based tanker operator AET, the MCVs are designed to provide containment services in the event of a deepwater well control incident. The vessels will serve a 20-year contract with the Marine Well Containment Company (MWCC), a consortium of 10 oil majors.

In the near future, Drydocks World will be building the “Dubai Expo 2020 NS” mega Jack-up rig for Drill One Capital. A series of AJ 62-X135 series of multi-purpose (accommodation & construction) Jack-Up rigs will be constructed for Offshore Innovation Management Ltd..

On the repair and maintenance side, Drydocks World has carried out major rig repair and refurbishment for major industry players. Nearly 125 repair and refurbishment projects have been completed in the past two decades. The shipyard has carried out major retro on drilling rigs and jack-ups, from a basic hull structure being transformed to a complete OPV with new fabricated bracing legs, columns, new spud cans, accommodation structures and jacking & drilling systems. Drydocks World is one of the specialized hubs for LNG, LPG and tanker repairs and has carried out projects for regional and global players. The shipyard has a specialized cryogenic workshop to address the sophisticated repair needs of gas carriers and has been consistently been used by this sector.

In addition, several forward-thinking measures have been implemented to achieve success in the foray into the oil & gas sectors. Drydocks World received formal recognition through American Petroleum Institute (API) Specification Q1 certification for the shipyard’s Quality Management System which is suited to the requirements of the offshore oil and gas sectors. An audit drive towards re-certification and process update for offshore services has been initiated and the company has reached an agreement with DNV GL to verify compliance with the ISO 9001:2008 standard and to identify potential process improvement opportunities as part of continuous improvement and innovation.

[mappress]

Press Release, March 03, 2014