Varco to Supply Rig Equipment for New Jackup

Varco International has inked a deal to supply drilling equipment valued at approximately $16 million, for a KFELS B Class jackup drilling rig being constructed for Gulf Drilling International, a joint venture between Qatar Petroleum and Japan Drilling Company. The equipment to be provided by Varco for the rig includes a top drive and pipehandling equipment, AC drawworks, derrick, mud pumps, BOP package, solids control system, drilling control system, and handling tools. The Gulf Drilling International jackup rig will be built by Keppel FELS shipyard in Singapore, and is scheduled for a fourth quarter 2006 delivery.

"We are delighted with Gulf Drilling International's decision to equip this rig with advanced Varco drilling equipment," noted John F. Lauletta, Varco's chairman and CEO. "Varco's commitment to service and technology continues to improve our customers' drilling operations throughout the world, including the Middle East."