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Gibdock Takes Steps to Fulfill Rig Strategy

12/16/2011

Gibraltar-based Gibdock’s key strategic aim to carve a niche in the growing regional market for jack-up and semi-submersible drilling rig repairs, maintenance and modification work, has moved an important step closer.

Following the arrival in October of the 22,604gt Etesco Millennium, a modified semi-submersible built in 1976 by Marathon Le Tourneau and upgraded in 2006, steel repair work has been carried out afloat and tasks in the pipeline include tank cleaning and repair, and work to enable safe mooring.

An extensive survey of the rig structure is being carried out to ascertain its condition. The rig has been working offshore continually for over five years and Richard Beards, Gibdock commercial director, says: “We are optimistic that the owner will authorise further work to the rig once this survey process is completed and details of the rig’s future deployment are confirmed.”

The contract is an important landmark for Gibdock, which has not handled a drilling rig since 1998. “We believe that the successful completion of this project will lead to more work of this type,” says Mr Beards. “It is part of our future strategy to get into the semisubmersible and jack-up rig sector and having the Etesco Millennium in Gibdock can only help us to achieve this target.”

In another important initiative to support its rig market strategy, Gibdock has commissioned an extensive survey of the seabed alongside its wharves. Joe Corvelli, Gibdock chief executive, says: “We investigated the harbour bottom in the area of the main wharf to be able to understand the suitability of the ground for landing a jack-up rig.