ODERCO wins contract to manufacture 10 oil rigs at cost AED500 million |
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Abu Dhabi, Aug. 03rd, 2008 (WAM)--Oilfield Drilling Equipment and Rig Company (ORDERCO UAE), specialised in the engineering, designing and manufacturing of oilfield drilling equipment and packages, has won a deal to manufacture 10 huge oil drilling rigs at cost AED500mn.
Dr Samir Ghalayini, board chairman of ORDERCO UAE, said the company in Abu Dhabi Industrial City won the contract despite intense competition from experienced US, Chinese and European companies, adding that the Orderco UAE submitted highly profile offer, which beat other offers. "The UAE is the first GCC country to fully manufacture the basic oil upstream and downstream equipment to export them to the oil producing countries. The company is executing other new deals on manufacturing of oil drilling rigs to export them to US, Saudi Arabia, Oman and Iraq", he added. Ghalayini noted that the company was currently increasing production capacity to 20 huge oil drilling rigs annually. Orderco UAE plans to turn into general company to boost its activities by enlisting at local, Arab and World bourses. "It is also considering to set up a subsidiary in Saudi Arabia at annual production capacity of 30 upstream and downstream oil rigs at cost $300 million. The rigs will be operated electronically". He added that it was the first time in the Arab world that the UAE Company would export oil drilling rigs to huge oil producing countries such as US.© Copyright Emirates News Agency (WAM) 2008.
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