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GDI Clinches $205M Contracts from Maersk Oil Qatar

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Maersk Olie og Gas A/S announced Monday that under the patronage and attendance of Dr Mohammed bin Saleh Al Sada, minister of Energy and Industry, Maersk Oil Qatar (MOQ) and Gulf Drilling International (GDI) have signed two new contracts Friday; one two-year contract for the GDI jackup B-341 (300' ILC), and another three-year contract for a new GDI offshore accommodation jackup to be deployed off Qatar. The total value of these contracts is more than $205 million (QAR 750 million).   

The October signings represent the second and third major agreements between GDI and MOQ in 2013. In February this year, the companies signed a contract for the offshore jackup Al Jassra (375' ILC), which is already working in the Al Shaheen field. This makes the total agreements signed between MOQ and GDI in 2013 worth a combined amount of about $428.5 million (QAR 1.56 billion).

The agreements were signed by MOQ’s Managing Director Lewis Affleck, and GDI’s CEO, Ibrahim J. Al-Othman. Also in attendance were: Saad Sherida Al Kaabi, director of Oil and Gas Ventures of Qatar Petroleum; Jakob Thomasen, CEO of Maersk Oil; and Sheikh Faisal Bin Fahad Al Thani, deputy managing director of MOQ. 

In his comments on the occasion, Dr. Mohammed Bin Saleh Al-Sada, minister of Energy and Industry, chairman and managing director of Gulf International Services, hailed the visionary leadership of His Highness Sheikh Tamim bin Hamad bin Khalifa Al-Thani, the emir of the State of Qatar, and his continuous support of the oil and gas sector. Dr. Al-Sada also acknowledged GDI’s rapid development and voiced appreciation of the high quality of service that it provides.

Speaking at the signing ceremony, Jakob Thomasen, CEO of Maersk Oil, said, "In close partnership with Qatar Petroleum, Maersk Oil operates Qatar’s largest offshore oil field, Al Shaheen. As a trusted and reliable operator that is committed to supporting Qatar’s National vision of His Highness the Emir Sheikh Tamim bin Hamad bin Khalifa Al-Thani, Maersk Oil works closely with Qatari businesses to maximize local participation in its activities. Today’s signing with GDI is testament to this commitment."

Thomasen continued, "Al Shaheen is one of the most complex fields in the world. More than twenty years of developing and operating the field alongside our partners QP, provides Maersk Oil with a unique level of experience and understanding of this challenging reservoir. Many more wells will be needed in the future to help successfully unlock the potential of the Al Shaheen field, and we’re therefore very pleased to continue our work with GDI, a local drilling contractor." 

On this occasion Ibrahim J. Al-Othman, GDI’s CEO, expressed his sincere appreciation Dr. Mohammed Bin Saleh Al-Sada, minister of Energy and Industry, chairman and managing director of Gulf international services for his unlimited support to GDI.


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