Qatar Petroleum and Gulf Drilling International sign US$467mn rig contracts

rig qatar-eschipul flickrGDI is the first onshore and offshore oil and gas drilling company in Qatar. (Image source: Eschipul/Flickr)Qatar Petroleum (QP) and Gulf Drilling International (GDI) have signed service contracts worth a combined value of US$467mn for two offshore drilling rigs

The rigs, Al-Doha and Al-Zubarah, will be used for drilling in Qatar Petroleum’s largest offshore field — Al Shaheen.

The new drilling rig service contracts are five-year extensions to existing service contracts on both the rigs, according to industry sources.

Mohammad Bin Saleh Al-Sada, minister of energy and industry, said, “Qatar Petroleum places high priority on the development of national oil service companies, including the Gulf Drilling International.”

Ibrahim Jassim Al-Othman, CEO of GDI, said that Gulf Drilling International is fully aware of the value resulting from the support it receives from Qatar Petroleum.

GDI 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.

QP operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage.

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