Qatar: GDI receives $349M jack-up rig contract

Qatar’s drilling contractor Gulf Drilling International has received a contract to provide a jack-up drilling rig to Qatar Petroleum.

Qatar Petroleum will hire GDI’s “Dukhan” jack-up rig, currently under construction at Keppel shipyard in Singapore.

The value of the five years long contract is around $349 million.

The contract is expected to start in the last quarter of the year, upon the delivery of the rig from the shipyard.

Ibrahim J. Al Othman, Chief Executive Officer of GDI, said: “GDI recognizes the value of the partnership and support it receives from Qatar Petroleum. Working with QP has granted us the chance to develop our skills, technologies and competencies to be a world-class drilling service company. I would like to take this opportunity, and as always, to express my sincere gratitude and deep appreciation for the support and guidance of H.E. Dr. Mohammad Bin Saleh Al Sada, Minister of Energy and Industry and QP Chairman & Managing Director, and I would also like to thank QP’s Operations Directorate for their continued support to GDI”.

“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,” Al-Othman added.