Font Size

- Aa +

Sun 9 Jun 2013 11:31 AM

Font Size

- Aa +

Qatar Petroleum ink $466m drilling rigs deal

Company signs contract extensions with Gulf Drilling International for equipment use

Qatar Petroleum ink $466m drilling rigs deal
(Photo for illustrative purposes only)

Qatar Petroleum (QP) has signed contract extensions worth a total of QR1.7bn ($466.9m) to continue using two drilling rigs owned by Gulf Drilling International Ltd (GDI), GDI said in a stock market statement on Sunday.

The contracts signed with state-run QP are five-year extensions to existing service contracts on two offshore rigs owned by GDI, which is a 70 percent-owned subsidiary of Gulf International Services.

In February, GDI announced the signing of a four year QR770m ($211m) agreement with Maersk Oil Qatar under which the Maersk unit will contract the Al Jassra, GDI's new-build jack-up drilling rig.

The contract covers drilling and well work-over activity in the Al Shaheen field, Qatar's largest offshore oil field.

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.