Array

Drydocks World targets O&G projects

Still committed to maintenance & repair, but sees potential in O&G.
Khamis Buamim: O&G represents a bright opportunity.
Khamis Buamim: O&G represents a bright opportunity.

Share

Drydocks World is sharpening its focus on the offshore energy sector to counter continued softness in the ship maintenance & repair business.

The company received 11 rigs in 2012 and recently completed the conversion of LNG carrier Golar Frost into FSRU Toscana. It is also working on the conversion of two tankers into modular capture vessels.

One of the vessels will be put to work in the Gulf of Mexico by Marine Well Containment Company (MWCC), a consortium of ten oil majors active in the area.

The company remains committed to its traditional maintenance & repair business, but sees the push into O&G as a necessary move. “Drydocks World – Dubai has traditionally been active in the ship repair and maintenance arena. But as part of its new business strategy, the company has diversified its range of products and services to cover different areas of the offshore oil & gas and energy sectors,” said Khamis Juma Buamim, chairman Drydocks World.

“As you are aware, due to economic factors, over the last three years, ship repair and maintenance has been affected with owners postponing non-essential repair.”

In further proof of its new capabilities, the company is building a sub-sea storage tank and one of the world’s largest offshore wind energy platforms, the DolWin Beta. It is also working on the design of an underwater hotel and a ‘Green Tug’ that runs on LNG.

Most Popular