QP Signs QR1.7 Billion Contracts for Drilling Rig Services with Gulf Drilling International

Doha, June 09 (QNA) - Qatar Petroleum (QP) and Gulf Drilling International Ltd. (GDI) announced Sunday the signing of two contracts with a combined value totals QAR 1.7 billion for the offshore drilling rigs, Al-Doha and Al-Zubarah, for use in QPs offshore fields. Each contract is for a five-year extension of both offshore rigs contracts, which will end in 2018. The contracts were signed by HE Minister of Energy and Industry and QP Chairman and Managing Director Dr. Mohammad bin Saleh Al-Sada and GDI Chief Executive Officer Ibrahim Jassim Al-Othman. Commenting on the occasion, HE the Minister of Energy and Industry said that Qatar Petroleum places high priority on the development of national oil service companies, including the Gulf Drilling International Ltd. HE Al-Sada praised the rapid development of the GDI and said that QP was appreciative of the high quality of service that it provides. For his part, GDI Chief Executive Officer said that GDI is fully aware of the value resulting from the support it receives from Qatar Petroleum. He noted that working with QP has granted the company the chance to develop the skills, technologies and the required competencies to be a world-class drilling service provider. Gulf Drilling International Ltd. (q.s.c.) is the first onshore and offshore oil and gas drilling company in Qatar and is a subsidiary of Gulf International Services (GIS), which is listed on the Qatar Exchange. GDIs fleet currently consists of six offshore rigs, six onshore rigs, and one offshore accommodation jack-up and one lift boat operating in Qatar. (QNA)