GDI Adds JX NIPPON to its Portfolio of Clients: Signs Contract to Drill Exploration Well

Gulf Drilling International (“GDI”), a joint venture of Gulf International Services (“GIS”), has signed a contract with JX Nippon Oil & Gas Exploration Qatar (“JX Nippon”) to utilize GDI’s hi-spec premium jack-up rig “Al Khor” to drill an exploratory well in 2014. The contract was signed by Takuya Wada, General Manager of JX NIPPON and Ibrahim Jassim Al Othman, Chief Executive Officer of GDI.

JX NIPPON is a 100% owned subsidiary of JX Nippon Oil & Gas Exploration Corporation. On May 8, 2011, JX NIPPON signed an Exploration and Production Sharing Agreement (EPSA) covering Block A (Pre-Khuff) with Qatar Petroleum.

The well, known as JXQA-1, will be drilled offshore Qatar. JX NIPPON is the Operator holding a 100% working interest of the Contractor under Block A EPSA. According to the latest drilling schedules, Al Khor is projected to commence drilling this well during the 2nd quarter of 2014.

GDI’s Chief Executive Officer, Mr. Ibrahim J. Al Othman said:  “I am pleased that GDI has added JX NIPPON to our growing list of clientele. JX NIPPON will become the 8th client to receive our services. Our exposure to another international operator will provide GDI with the opportunity to demonstrate our operational experience and crew commitment to achieve client targets, while maintaining high standards of safety and performance.”

JX NIPPON’s General Manager, Mr. Takuya Wada said:

“JXQA-1 is the first exploration well for JX Nippon to drill as an operator in Qatar. GDI is not only well experienced in drilling offshore Qatar but also a highly-skilled drilling company. We would like to pursue a great achievement of our project in cooperation with GDI. ”