Gulf Drilling International signs a Cooperation Agreement with Seadrill to meet higher demand for Offshore Drilling Services in Qatar

Gulf International Services (“GIS” or “the group”; QE: GISS), the largest service group in Qatar, with interests in a broad cross-section of industries, ranging from insurance, re-insurance, fund management, onshore and offshore drilling, accommodation barge, helicopter transportation, and catering services, announces that its subsidiary Gulf Drilling International,  the largest oil field service company in Qatar, has signed a definitive agreement with Seadrill for the utilization of the offshore drilling rig “West Tucana”.

As a part of the agreement, the ‘West Tucana’, a JU 2000E, will be contracted to work in Qatar offshore for a firm period of 440 days with options in place for further extensions.

GDI also announced today that it has signed a Strategic Cooperation Agreement with Seadrill that provides the foundation for future synergies in Qatar’s offshore market between GDI & Seadrill.

Mr. Mubarak A. Al-Hajri, GDI Chief Executive Officer, said: “This partnership with Seadrill will lead to greater strategic and competitive advantage strengthening our position as the leader in Qatar Offshore drilling market. By bringing together Seadrill’s high-specification jack up fleet, GDI’s diverse customer base, and our combined experience, we plan to continue delivering market leading level of operational and safety performance to our clients.”

Seadrill Chief Executive Officer Mr. Anton Dibowitz said, “We are delighted to have signed a Strategic Cooperation Agreement and an initial contract for the West Tucana with GDI. We have the scale and high specification fleet required for work now and into the future in such an important growing market as Qatar.”