Gulf Drilling International

Last updated

Gulf Drilling International
Company typeQatari Shareholding Company
Industry Oil & Gas Drilling Contractor
FoundedMay 2004
Headquarters
9th and 10th Floors, Palm Tower B, West Bay, Doha
,
Products Offshore drilling, Onshore drilling and associated services, Offshore accommodation, Liftboat and Offshore Platform support
RevenueIncrease2.svg US$ 542.5 million (2014)
GDI 10 year Revenue Growth Chart Gdi 1revenuegrowthchart.png
GDI 10 year Revenue Growth Chart
Increase2.svg US$ 201.4 million (2014)
GDI 10 year Net Profit Growth Chart Gdi 2netprofitgrowthchart.png
GDI 10 year Net Profit Growth Chart
Total assets Increase2.svg US$ 1712.8 million (2014)
GDI 10 year Asset Growth Chart Gdi 3assetgrowthchart.png
GDI 10 year Asset Growth Chart
Owners2004-2007Qatar Energy (QP) 60% • Japan Drilling Company (JDC) 40%
2007-2008QatarEnergy (QP) 70% • Japan Drilling Company (JDC) 30%
2008 - 2014 • Gulf International Services Q.S.C. (GIS) 70% • Japan Drilling Company (JDC) 30%
1 May 2014 onwardGulf International Services Q.S.C. (GIS) 100%,
Website www.gdi.com.qa

Gulf Drilling International Limited (GDI) is a Qatari Shareholding Company based in West Bay, Doha.

Contents

History

Gulf Drilling International was established on 18 May 2004 as the first drilling contractor in the State of Qatar. GDI was originally formed as a joint venture between QatarEnergy (60% share) and Japan Drilling Co. Ltd (JDC 40% share). In July 2007, QP acquired a 10% share from JDC, raising its ownership to 70%. On 12 February 2008, GDI's shares held by QP were transferred to Gulf International Services Q.S.C. (GIS). [1] [2] [3] [4] [5]

In April 2014, GIS signed a Share Purchase Agreement (SPA) with JDC to acquire JDC's remaining 30% shareholding of GDI. This made GDI a wholly owned subsidiary of GIS as of 1 May 2014.

GIS is a public shareholding company owned by individual investors and select institutions, including QP. It is Qatar's largest oil sector services company, and its shares are listed on the Qatar Exchange. GIS holds 100% of Gulf Helicopters Company Q.S.C. shares, Al-Koot Insurance and Reinsurance Company S.A.Q., and Amwaj Catering Services Q.S.C. [6] [7] [8] [9]

In May 2019, GDI was awarded six of the eight offshore jack-up drilling rigs to execute the North Field Expansion Project, with drilling activities starting in January 2020. [10] Following the award, GDI has formed a 50:50 joint venture with Seadrill Limited to manage and operate five jack-up rigs with QatarEnergy. The five contracts are worth $656 million. [11]

Services

GDI specializes in providing drilling rigs and associated services to the oil and gas exploration and production companies in Qatar. GDI operates nine offshore jack-up drilling rigs, six land rigs, one accommodation barge, and one lift boat. GDI also has a lift boat on contract through a vessel it manages on its owner's behalf. [2] [4] [12]

GDI currently holds a 60% share of the offshore drilling market and a 100% share of the onshore drilling market in Qatar. Within Qatar, GDI's client base includes QatarEnergy and other international oil and gas operators conducting well operations. GDI's international oil company clients include Qatar Shell Services Company W.L.L. (Shell), North Oil Co., Occidental Petroleum of Qatar Ltd. (Oxy), Maersk Oil Qatar (MOQ), Qatargas, JX-Nippon Oil & Gas Exploration Corporation (JX-Nippon), QatarEnergy Development Company and Dolphin Energy Limited (Dolphin). [2] [3] [13] [14]

GDI continues to expand its scope, footprint, and market share. The company has delivered its latest offshore jack-up rig, 'Dukhan,' which started operations in November 2014. In 2014, GDI signed contracts with shipyards in Singapore and Qatar to build a new jack-up offshore drilling rig ('Halul') and a Lift boat ('Al-Safliya'), respectively. Both assets already have client contracts and are expected to start operations in 2016. Al-Safliya would be GDI's first newly built lifeboat from a shipyard in Qatar. [15]

GDI has also placed orders with a yard in the USA to build two new land rigs. These two new land rigs, slated for operations by Q4 2015 and Q1 2016, respectively, will give GDI eight drilling onshore rigs, maintaining its 100% market share.

GDI is investing in infrastructure, logistics, and associated equipment to support the expansion, which includes crew accommodations, warehousing and yard facilities, workshops, cranes, water well drilling units, heavy transportation carriers, and site preparation equipment. [16] [3] [17] [18] [19]

• GDI celebrated its 10th anniversary in 2014.

• GDI had its best safety record since its inception, with a TRIR of 0.32 in 2014. [16]

• GDI's revenue and net profit was an all-time high in 2014. [16]

• In 2014, GDI had 1713 employees, including 136 Qatari Nationals, accounting for 8% of GDI's total workforce.

• GDI is an ISO 9001, ISO 14001, and OHSAS 18001 certified company. [1]

• As a growth-oriented company, GDI has doubled the number of rigs from 9 to 18 in just four years as part of its business expansion plan. [16]

• GDI is a member of the International Association of Drilling Contractors (IADC) and the Drops Forum (Dropped Objects Prevention Scheme).

• GDI has many employees who are members of the Society of Petroleum Engineers (SPE) and, therefore, are involved in the Qatar Society of Petroleum Engineers (QSPE). GDI is represented in the ABS Middle East Regional Committee and the Special Committee on Mobile Offshore Units.

• GDI is also a member of the GCC National Drilling Contractors Exchange Forum

Fleet status as of January 2019

[16] [3] [4] [20] [21]

Rig NameRig Type / Contractual StatusOperator
West TucanaOffshore Jack-Up/On ContractQatargas Operating Limited
Al-WajbaOffshore Jack-Up Rig / On ContractQatarEnergy
Al-KhorOffshore Jack-Up Rig / On ContractQatar Shell Services W.L.L
Al-ZubarahOffshore Jack-Up Rig / On ContractQatarEnergy
Al-JassraOffshore Jack-Up Rig / On ContractQatargas Operating Limited
Les hatOffshore Jack-Up Rig / On ContractQatargas Operating Limited
MsheirebOffshore Jack-Up Rig / Ready for potential opportunities-
DukhanOffshore Jack-Up Rig / On contractQatarEnergy
HalulOffshore Jack-Up/On ContractQatarEnergy
ZikreetOffshore Accommodation Barge / On ContractQatarEnergy
RumailahLift Boat / On ContractQatarEnergy Development
Al SafliyaLift Boat / Contract in placeQatarEnergy Development
GDI-1Onshore Rig / On ContractQatarEnergy
GDI-2Onshore Rig / On ContractQatarEnergy
GDI-3Onshore Rig / On ContractQatarEnergy
GDI-3Onshore Rig / On ContractQatarEnergy
GDI-4Onshore Rig / On ContractQatarEnergy
GDI-5Onshore Rig / On ContractQatarEnergy
GDI-6Onshore Rig / On ContractQatarEnergy
GDI-7Onshore Rig / Contract in placeQatarEnergy
GDI-8Onshore Rig / Contract in placeQatarEnergy

Related Research Articles

<span class="mw-page-title-main">Oil platform</span> Offshore ocean structure with oil drilling and related facilities

An oil platform is a large structure with facilities to extract and process petroleum and natural gas that lie in rock formations beneath the seabed. Many oil platforms will also have facilities to accommodate the workers, although it is also common to have a separate accommodation platform linked by bridge to the production platform. Most commonly, oil platforms engage in activities on the continental shelf, though they can also be used in lakes, inshore waters, and inland seas. Depending on the circumstances, the platform may be fixed to the ocean floor, consist of an artificial island, or float. In some arrangements the main facility may have storage facilities for the processed oil. Remote subsea wells may also be connected to a platform by flow lines and by umbilical connections. These sub-sea facilities may include one or more subsea wells or manifold centres for multiple wells.

<span class="mw-page-title-main">Transocean</span> Offshore drilling contractor

Transocean Ltd. is an American drilling company. It is the world's largest offshore drilling contractor based on revenue and is based in Vernier, Switzerland. The company has offices in 20 countries, including Canada, the United States, Norway, United Kingdom, India, Brazil, Singapore, Indonesia, and Malaysia.

<span class="mw-page-title-main">Drillship</span> Vessel fitted for offshore drilling

A drillship is a merchant vessel designed for use in exploratory offshore drilling of new oil and gas wells or for scientific drilling purposes. In recent years the vessels have been used in deepwater and ultra-deepwater applications, equipped with the latest and most advanced dynamic positioning systems.

<span class="mw-page-title-main">Valaris Limited</span> Offshore drilling contractor

Valaris Limited is an offshore drilling contractor headquartered in Houston, Texas, and incorporated in Bermuda. It is the largest offshore drilling and well drilling company in the world, and owns 52 rigs, including 36 offshore jackup rigs, 11 drillships, and 5 semi-submersible platform drilling rigs.

<span class="mw-page-title-main">Seadrill</span>

Seadrill is an offshore drilling contractor providing worldwide offshore drilling services to the oil and gas industry. Its primary business is the ownership and operation of drillships, semi-submersible rigs, and jack-up rigs for operations in shallow to ultra-deep water in both benign and harsh environments. It provides a contract-based service and primarily serves the oil super-majors, integrated oil and gas, state-owned national oil, and independent oil and gas companies.

Eastern Drilling was an offshore drilling contractor headquartered in Grimstad, Norway. In May 2007, Seadrill acquired the company.

<span class="mw-page-title-main">Offshore drilling</span> Mechanical process where a wellbore is drilled below the seabed

Offshore drilling is a mechanical process where a wellbore is drilled below the seabed. It is typically carried out in order to explore for and subsequently extract petroleum that lies in rock formations beneath the seabed. Most commonly, the term is used to describe drilling activities on the continental shelf, though the term can also be applied to drilling in lakes, inshore waters and inland seas.

<span class="mw-page-title-main">QatarEnergy</span> Qatari state-owned oil company

QatarEnergy, formerly Qatar Petroleum (QP), is a state owned petroleum company of Qatar. The company operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage. The President & CEO is Saad Sherida al-Kaabi, Minister of State for Energy Affairs. The company's operations are directly linked with state planning agencies, regulatory authorities, and policy making bodies. Together, revenues from oil and natural gas amount to 60% of the country's GDP. As of 2018 it was the third largest oil company in the world by oil and gas reserves. In 2022, the company had total revenues of US$52bn, a net income of US42.4bn, and total assets of US$162bn. In 2021, QatarEnergy was the fifth largest gas company in the world.

<i>Deepwater Horizon</i> Former offshore oil drilling rig

Deepwater Horizon was an ultra-deepwater, dynamically positioned, semi-submersible offshore drilling rig owned by Transocean and operated by BP. On 20 April 2010, while drilling at the Macondo Prospect, a blowout caused an explosion on the rig that killed 11 crewmen and ignited a fireball visible from 40 miles (64 km) away. The fire was inextinguishable and, two days later, on 22 April, the Horizon sank, leaving the well gushing at the seabed and turning into the largest marine oil spill in history.

<span class="mw-page-title-main">Jackup rig</span> Type of mobile platform

A jackup rig or a self-elevating unit is a type of mobile platform that consists of a buoyant hull fitted with a number of movable legs, capable of raising its hull over the surface of the sea. The buoyant hull enables transportation of the unit and all attached machinery to a desired location. Once on location the hull is raised to the required elevation above the sea surface supported by the sea bed. The legs of such units may be designed to penetrate the sea bed, may be fitted with enlarged sections or footings, or may be attached to a bottom mat. Generally jackup rigs are not self-propelled and rely on tugs or heavy lift ships for transportation.

Saipem S.p.A. is an Italian multinational oilfield services company and one of the largest in the world. Until 2016 it was a subsidiary of Italian oil and gas supermajor Eni, which retains approximately 30% of Saipem's shares.

Yme is an oil field in the Egersund basin area in the central part of the North Sea. It is located 160 kilometres (99 mi) northeast of the Ekofisk oil field. The water depth is 93 metres (305 ft). The field was discovered in 1987 and was developed by Statoil with production from 1996 to 2001. In 2001 low oil prices led to the abandonment of the field. After the production license was relinquished by Statoil, a new license group led by Talisman Energy was formed to redevelop the field. In 2007 Talisman was granted permission to redevelop the field. The redevelopment was unsuccessful and the newly installed Yme MOPU STOR was abandoned and decommissioned without having entered production. A new attempt called the Yme New Development was launched by the new operator Repsol, which involved reusing the subsea installations already in place. The Yme field began producing again in 2021, marking the first time that a previously abandoned Norwegian oil field has been restarted.

The Al Shaheen Oil Field is a production oil and gas field off the north east coast of Qatar in the Persian Gulf, 80 kilometres (50 mi) north of Doha. The oil field lies above the North Gas Field, one of the largest gas fields in the world. The field has been operated by Maersk Oil Qatar AS of Denmark until July 2017 under a production sharing agreement with QatarEnergy, on behalf of the state of Qatar. As of June 2016, QatarEnergy and the French major TotalEnergies established a new company known as North Oil Company. The new company is 70% owned by QatarEnergy and 30% by TotalEnergies. North Oil Company took over field operations on 14 July 2017.

Deepwater drilling, or deep well drilling, is the process of creating holes in the Earth's crust using a drilling rig for oil extraction under the deep sea. There are approximately 3400 deepwater wells in the Gulf of Mexico with depths greater than 150 meters.

<span class="mw-page-title-main">Lamprell</span> Oil rig construction company

Lamprell plc, based in the United Arab Emirates, specialises in construction and fabrication, servicing both the Renewables and Oil & Gas industries. It builds wind turbine foundations as well as shallow-water drilling jackup rigs, liftboats and land rigs, and it also carries out rig refurbishment. In 2021 the company added a Digital business unit servicing not only the renewables and oil & gas sectors but other related industries. It is listed on the London Stock Exchange.

The Kaskida Oil Field is an offshore oil field located in the Keathley Canyon block 292 of the United States sector of the Gulf of Mexico, 250 miles (400 km) south-west of New Orleans, Louisiana. The field is operated by BP, and owned by BP (100%).

GSP Orizont is a semi-submersible, jackup independent leg cantilever drilling rig operated by GSP Drilling, a Grup Servicii Petroliere subsidiary, and currently contracted by Iranian Offshore Engineering and Construction Company for drilling in the Iranian section of the Persian Gulf. The drilling unit is registered in Malta.

GSP Prometeu is a jackup independent leg cantilever drilling rig operated by GSP Drilling, a Grup Servicii Petroliere subsidiary, and currently contracted by Melrose Resources for drilling in the Bulgarian section of the Black Sea. The drilling unit is registered in Malta.

Mr. Louie is a former self-elevating drilling barge converted into an oil platform. It was the first self-elevating drilling barge classed by the American Bureau of Shipping. As an oil platform, it operates at the Saltpond Oil Field, offshore Ghana.

<i>Maersk Convincer</i> Maersk jackup rig

Maersk Convincer is a jackup rig built in Singapore. It was originally named PetroJack III. It was acquired and owned by Danish Maersk Drilling for operations in Southeast Asia. In 2022, Maersk Drilling sold the jackup rig to ADES.

References

  1. 1 2 Gulf Drilling International Annual Report : 2013 Company Profile
  2. 1 2 3 Gulf Drilling International Company Profile
  3. 1 2 3 4 ""Gulf Drilling International Website – Home Page"". Archived from the original on 1 August 2018. Retrieved 9 December 2013.
  4. 1 2 3 ""Gulf Drilling International Website – Operations Fleet Status Report- Jan 2013"" (PDF). Archived from the original on 24 September 2015. Retrieved 9 December 2013.
  5. Today, Offshore Energy (11 May 2011). "Singapore: Gulf Drilling International Ltd. Orders Two Jackup Rigs from Keppel". Offshore Energy. Retrieved 19 January 2023.
  6. "Gulf International Services Website – Latest News – GDI inaugurated Al-Jassra Drilling Rig"
  7. "Gulf Helicopters". qp.com.qa. Retrieved 26 November 2019.
  8. "Qatar: Al Koot Insurance wins contract from Qatar Airways". Middle East Insurance Review. Retrieved 26 November 2019.
  9. "Qatar's Gulf International signs $170 mln loan to fund buy". Reuters. 4 June 2012. Retrieved 26 November 2019.
  10. "QP awards contracts for drilling rigs for North Field Expansion Project". Gulf-Times (in Arabic). 1 May 2019. Retrieved 26 November 2019.
  11. "Seadrill venture in $656 million Qatar rig contract". euronews. 16 August 2019. Retrieved 26 November 2019.
  12. "Gulf Drilling International (GDI)". qp.com.qa. Retrieved 26 November 2019.
  13. Jarvis, Barry (12 January 2016). "Gulf Drilling International Ltd". Energy Oil and Gas. Retrieved 26 November 2019.
  14. "Report: Gulf Drilling inks rig contracts with Shell and North Oil Co". Offshore Energy Today. 30 January 2019. Retrieved 26 November 2019.
  15. "Nakilat-Keppel O&M Completes Keel Laying for GDI's Newbuild Liftboat". www.rigzone.com. Retrieved 26 November 2019.
  16. 1 2 3 4 5 ""Gulf Drilling International Website – Media Center"". Archived from the original on 15 July 2018. Retrieved 9 December 2013.
  17. Gulf Drilling International Annual Report : 2011 Highlights
  18. Gulf Drilling International Annual Report : 2011 Message from the Board of Directors and Management
  19. "GDI Buys Ensco Jackup". www.rigzone.com. Retrieved 19 January 2023.
  20. Gulf Drilling International Annual Report : 2011 Operational View
  21. Rigzone.com – Offshore Drilling Rig Data