GDI and Oxy Qatar sign renewal contract for offshore jackup rig

offshore rig-tsuda flickrGDI currently has two more rigs under contract with Oxy Qatar. (Image source: Tsuda/Flickr)Gulf Drilling International (GDI) has signed a five-year extension contract worth $228mn with Occidental Petroleum of Qatar Limited (Oxy Qatar) for jackup rig Al-Wajba for offshore operations

According to the Qatar-based drilling company, the deal will commence 1 January 2015 when the current contract expires.

This will be Al-Wajba’s second term with Oxy Qatar since the jackup rig first began working for the company in 2008, GDI added.

GDI currently has two more rigs under contract with Oxy Qatar.

Ibrahim Jassim Al Othman, CEO of GDI, said, “We are pleased to sign a new contract for the Al Wajba with Oxy Qatar. GDI’s relationship with Oxy Qatar has proven to be mutually beneficial as its rigs are being used for drilling and workover of wells and in support of Oxy Qatar’s minimum facilities platforms (MFP).

“Over the last several years, GDI rigs have been used exclusively by Oxy Qatar for development of the Idd El Shargi (North and South Domes) and Al Rayyan fields, located offshore Qatar. Since the start of its drilling operations in Qatar in 1995, Oxy has considered the jackup rigs Al-Rayyan and Al-Wajba to be among the best it has ever used.”

GDI added that it has nearly doubled the size of its rig fleet as part of business expansion, with the company expected to have a 18 onshore and offshore drilling rigs by the end of 2015.

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