Maersk Oil Qatar Signs $211 Million Contract for Gulf Drilling’s Newbuild Jack-Up

Maersk oil qatar gulf drillingMaersk Oil Qatar and Gulf Drilling International (GDI) announced today they have signed a four year agreement for 770 million Qatari Riyal (USD $211 million), under which Maersk Oil Qatar will contract the Al Jassra, GDI’s Pacific Class 400 jack-up drilling rig which is currently under construction at PPL Shipyard in Singapore.

The contract covers drilling and well work-over activity in the Al Shaheen field, Qatar’s largest offshore oil field. The agreement was signed by Maersk Oil Qatar ‘s Managing Director Lewis Affleck, and GDI’s Chief Executive Officer, Ibrahim J. Al-Othman.

Mr Lewis Affleck, Maersk Oil Qatar ‘s Managing Director said: “By working closely with our partner Qatar Petroleum, Maersk Oil has started to unlock the significant potential of the Al Shaheen oil field. We have already drilled in excess of 300 wells, and we expect to drill many more in the years ahead to optimise recovery from this giant offshore oil field. We are very pleased that a Qatari-based drilling company is able to provide the world-class drilling support that we currently require – and we very much look forward to working with GDI.”

The Al Jassra will be one of the drilling rigs used to deliver Maersk Oil ‘s current field development plan, FDP 2012, which was agreed in November 2012 and calls for the drilling of 51 new wells in the Al Shaheen oil field.

Mr Ibrahim J. Al-Othman, GDI’s Chief Executive Officer said: “Today’s signing signifies an important milestone for GDI, as we begin to provide an essential role in the future development of Qatar’s largest offshore oil field. Both companies have worked tirelessly to ensure that a credible, economic and sustainable drilling rig solution is delivered. Maersk Oil has been instrumental in providing valuable input to the specifications, design preferences and features of this new rig. In the process, we have cultivated an excellent working relationship that is focused on mutually-beneficial results.”

He added: “We are pleased that Maersk Oil is committed to using the services of a Qatari-based drilling company and to supporting the country’s national vision of building local capacities and developing Qatari skills and competencies.”

The rig will come with a 75′ cantilever outreach and will provide accommodation for 150 persons. It will provide the capacity and ability to drill the extended reach wells that are needed to access the long thin reservoirs of the Al Shaheen field.

Following commissioning and dry tow, the rig is expected to arrive in Qatar mid-year, 2013.