May 23rd, 2011 - 06:54 GMT
Gulf Drilling International Limited announced today that it has closed a new US$430 million (QR 1.57 billion) credit facility with a syndicate of three banks.
On May 2004, Gulf Drilling International Limited (GDI) was established as the first onshore and offshore oil and gas drilling company in Qatar. GDI was formed as a joint venture between Qatar Petroleum (QP), Qatar’s national oil corporation, and Japan Drilling Co., Ltd. (JDC). In July 2007, QP acquired 25% shares of JDC, raising its ownership in GDI to 70%. In February of 2008, all shares of QP were transferred to Gulf International Services, Q.S.C. (GIS) which became a public shareholding company in May 2008 and is listed on the Doha Market.