Occidental Extends ‘Al Wajba’ Rig Contract (Qatar)

Qatar’s Gulf Drilling International and Occidental Petroleum have signed a five year contract for the jack-up rig ‘Al Wajba’.

The contract will take effect on January 1, 2015, upon expiration of the current contract. The rig has been working for Oxy Qatar since 2008. The estimated value of the deal is around $228 million, or 830 million in Qatari Rials.

Apart from Al Wajba, two more GDI’s rigs are working for Occidental. Over the past several years, Occidental has used the GDI drilling rigs for the development of the Idd El Shargi (North and South Domes) and Al Rayyan fields, offshore Qatar.

Fleet expansion

In a press release issued today, Gulf Drilling International said that,  as part of its business expansion plan,it intends to almost double the size of its total rig fleet.

“By the end of 2015, GDI will have a total of 18 onshore and offshore drilling rigs (in just three years). This will reflect positively on the strategic goals the company has set for itself,” the company said.

Offshore Energy Today Staff, January 28, 2014