Gulf Drilling International

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

Gulf Drilling International

Type	Qatari Shareholding Company
Industry	Oil & Gas Drilling Contractor
Founded	May, 2004
Headquarters	9th and 10th Floors, Palm Tower B, West Bay, Doha , Qatar
Products	Offshore drilling, Onshore drilling and associated services, Offshore accommodation, Liftboat and Offshore Platform support
Revenue	US$ 542.5 million (2014) GDI 10 year Revenue Growth Chart
Net income	US$ 201.4 million (2014) GDI 10 year Net Profit Growth Chart
Total assets	US$ 1712.8 million (2014) GDI 10 year Asset Growth Chart
Owners	2004-2007 • Qatar Petroleum (QP) 60% • Japan Drilling Company (JDC) 40% 2007-2008 • Qatar Petroleum (QP) 70% • Japan Drilling Company (JDC) 30% 2008 - 2014 • Gulf International Services Q.S.C. (GIS) 70% • Japan Drilling Company (JDC) 30% 1st May 2014 onward • Gulf International Services Q.S.C. (GIS) 100%,
Website	www.gdi.com.qa

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 Qatar Petroleum (60% share) and Japan Drilling Co. Ltd (JDC- 40% share). On July 2007, QP acquired 25% of JDC's share holding, 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 all JDC's 30% shareholding in GDI. GIS now owns 100% shares in GDI, making 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 the largest oil sector services company in Qatar, and its shares are listed on the Qatar Exchange. GIS also holds 100% shares of Gulf Helicopters Company Q.S.C., 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 jackup drilling rigs to execute the North Field Expansion Project with drilling activities starting in January 2020.[10] Following the award GDI has formed 50:50 joint venture with Seadrill Limited to manage and operate five jackup rigs with Qatar Petroleum. The five contracts are worth of $656 million.[11]

Services

GDI specializes in the provision of drilling rig and associated services to the oil and gas exploration and production companies operating in the State of Qatar. GDI currently has nine offshore jack-up drilling rigs, six land rigs, one accommodation barge and one lift boat, under operation. GDI also has a lift boat on contract through a vessel it is managing on behalf of its owner.[2][4][12]

GDI currently holds 60% share of the offshore drilling market and a 100% share of the onshore drilling market in the State of Qatar. Its client base has Qatar Petroleum (QP) and other international oil and gas operators conducting well operations in the State of Qatar. 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), RasGas Company Limited (RasGas), JX-Nippon Oil & Gas Exploration Corporation (JX-Nippon), Qatar Petroleum Development Company (QPD) and Dolphin Energy Limited (Dolphin).[2][3][13][14]

GDI continues to expand its scope, footprint and market share. The company has taken delivery of its latest offshore jack-up rig ‘Dukhan’ which started operations from November 2014. In 2014 GDI has 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 contracts with clients and are expected to start operations in 2016. Al -Safliya would be GDI's the first new-build Liftboat from a shipyard in Qatar.[15]

GDI has also placed orders with a yard in USA to build two new land rigs. With these two new land rigs slated for operations by Q4 2015 & Q1 2016 respectively, GDI will have 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, workshop, 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 ever 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]

• Year ending 2014 GDI had 1713 employees, including 136 Qatari Nationals who account for 8% of GDI's total work force.

• 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 the span of just 4 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 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 Name	Rig Type / Contractual Status	Operator
West Tucana	Offshore Jack-Up/On Contract	Qatargas Operating Limited
Al-Wajba	Offshore Jack-Up Rig / On Contract	Qatar Petroleum
Al-Khor	Offshore Jack-Up Rig / On Contract	Qatar Shell Services W.L.L
Al-Zubarah	Offshore Jack-Up Rig / On Contract	Qatar Petroleum
Al-Jassra	Offshore Jack-Up Rig / On Contract	Qatargas Operating Limited
Les hat	Offshore Jack-Up Rig / On Contract	Qatargas Operating Limited
Msheireb	Offshore Jack-Up Rig / Ready for potential opportunities	-
Dukhan	Offshore Jack-Up Rig / On contract	Qatar Petroleum
Halul	Offshore Jack-Up/On Contract	Qatar Petroleum
Zikreet	Offshore Accommodation Barge / On Contract	Qatar Petroleum
Rumailah	Lift Boat / On Contract	Qatar Petroleum Development
Al Safliya	Lift Boat / Contract in place	Qatar Petroleum Development
GDI-1	Onshore Rig / On Contract	Qatar Petroleum
GDI-2	Onshore Rig / On Contract	Qatar Petroleum
GDI-3	Onshore Rig / On Contract	Qatar Petroleum
GDI-3	Onshore Rig / On Contract	Qatar Petroleum
GDI-4	Onshore Rig / On Contract	Qatar Petroleum
GDI-5	Onshore Rig / On Contract	Qatar Petroleum
GDI-6	Onshore Rig / On Contract	Qatar Petroleum
GDI-7	Onshore Rig / Contract in place	Qatar Petroleum
GDI-8	Onshore Rig / Contract in place	Qatar Petroleum

References

1. Gulf Drilling International Annual Report : 2013 Company Profile
2. Gulf Drilling International Company Profile
3. ""Gulf Drilling International Website – Home Page"". Archived from the original on 1 August 2018. Retrieved 9 December 2013.
4. ""Gulf Drilling International Website – Operations Fleet Status Report- Jan 2013"" (PDF). Archived from the original on 24 September 2015. Retrieved 9 December 2013.
5. "Offshore Energy Today.com"
6. "Gulf International Services Website – Latest News – GDI inaugurated Al-Jassra Drilling Rig"
7. "Gulf Helicopters". qp.com.qa. Retrieved 26 November 2019.
8. Review, Middle East Insurance. "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. 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. ""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. "www.Rigzone.com – E&P News"
20. Gulf Drilling International Annual Report : 2011 Operational View
21. Rigzone.com – Offshore Drilling Rig Data