Gulf Drilling International

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

Gulf Drilling International Limited (GDI) was established on 18 May 2004 as the first drilling contractor in the State of Qatar. 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 (9) offshore jack-up drilling rigs, six (6) land rigs, one (1) accommodation barge and one (1) lift boat, under operation. GDI also has a lift boat on contract through a vessel it is managing on behalf of its owner.^{[1][2][3][4][5]}

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), 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).^[1][2][3][4]

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.

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 (8) 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.^{[3][4][6][7][8]}

• GDI celebrated its 10th year anniversary in 2014.

• GDI had its best Safety record ever since its inception, with a TRIR of 0.32, in 2014.^[3]

• GDI’s revenue and net profit was an all-time high in 2014.^[3]

• 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.^[3]

• 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

Company history

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][4][5][9]}

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.^[1][10][11]

Fleet status as of January 2015

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Notes / Reference