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GULF DRILLING INTERNATIONAL SIGNS A COOPERATION AGREEMENT WITH SEADRILL TO MEET HIGHER DEMAND FOR OFFSHORE DRILLING SERVICES IN QATAR

Gulf International GISS -1.19% 2.74 -0.03
Gulf International Services announces that its subsidiary Gulf Drilling International has signed a definitive agreement with Sea drill 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 Sea drill that provides the foundation for future synergies in Qatar’s offshore market between GDI & Sea drill.
Mr. Mubarak A. Al-Hajri, GDI Chief Executive Officer, said: “This partnership with Sea drill will lead to greater strategic and competitive advantage strengthening our position as the leader in Qatar Offshore drilling market. By bringing together Sea drill’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.” 
Sea drill 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.”

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