Al khaliji, a new generation bank, has extended its financing to Gulf Drilling International (GDI) for the latter’s purchase of the new jack up rig ‘Al Jassra’.
GDI, 60% owned by Gulf International Services and 40% by Japan Drilling International, estimates that it will cost approximately QR900mn to place this rig into service.
“Our contribution further fuels the on-going development of Qatar’s economy. Al khaliji has become a major player in the oil and gas sector, thanks to our solid history of growth, the confidence of international credit agencies, and tradition of delivering innovative financing solutions,” Robin McCall, al khaliji Group CEO said.
Al khaliji expects to play an even larger role in this sector as Qatar continues to drive its diversification plans, he said.
“Our participation in the financing of GDI’s new offshore jack-up rig underlines our strong commitment to be a notable partner in the growth plans of Qatar today...We believe that GDI’s expansion plans will provide critical infrastructure for the further development of the oil and gas industry in Qatar,” Mohamed Abdulkhalek, al khaliji’s chief business officer, said.
The Pacific Class 400 Jack-up drilling rig represents the latest generation of high-specification jack-up drilling rigs to be added to GDI’s fleet and provides GDI with the capacity and ability to drill deep wells.
The “Al Jassra” has been contracted to the Danish conglomerate, Maersk Oil Qatar, for drilling activities in the Qatar. It will be utilised to drill extended reach wells that are needed to exploit the long thin reservoirs of the Al Shaheen field, Qatar’s largest offshore oil field.