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His Excellency Khamis Juma Buamim, chairman of Drydocks World and Dubai Maritime City, has outlined his intention to make Dubai a leading hub for offshore rig repair, conversion and new building work, on the back of some significant business wins in recent months.
He says,”We aim to achieve more success, having already seen a big increase in the numbers of offshore ships and drilling rigs that have been serviced by Drydocks World Dubai this year. We are in particular taking steps to expand our knowledge base, and introduce modern technology to support future achievements.”
To date Drydocks World Dubai has successfully drydocked, repaired and refurbished over 135 offshore support vessels, and has docked 35 rigs over the past three years. So far in 2014 contracts for 14 rig refurbishment projects have been signed and in November the yard will achieve an impressive record when eight rigs will be docked simultaneously for repairs and upgrades in Dubai. Over 20% of turnover for Drydocks World Dubai this year will be derived from rig work, with European owners leading the way, the yard is effectively fully booked for the next three months.
“We are growing at a rapid pace, not just in rigs but in ship repair as well,” adds Buamim.”The future looks very encouraging right now.”
The company has also secured agreements to build two jackup drilling rigs, based on the pioneering Gusto design concept, and signed a contract to build the Borwin 3 offshore wind farm platform for German clients last month. Further agreements for a number of accommodation backup and drilling rigs are said to be at the final stages of negotiation. In terms of bidding for such contracts against tough international competition, Drydocks World Dubai is achieving a success rate of around 55%, says Buamim. “The fact that so many owners are bringing their rigs, sometimes over long distances to Dubai, speaks volumes for the growing reputation we have,” he points out.
Most recently Drydocks World has been selected to carry out drydocking and repairs to the jack-up rig High Island IV for Shelf Drilling. The contract builds on the existing relationship between the two companies with the Dubai yard completing work on six Shell Drilling rigs so far, including major upgrades and reactivation work.
Buamim stresses the importance of having a strong commitment to providing services which meet the highest international standards. He says,”We have already surpassed the target set this year for rig docking repairs and refurbishment. We look forward to increasing our achievements as we embark on another project for Shelf Drilling, furthering our strategic alliance.”
Drydocks World Dubai is a major supporter of the inaugural The Maritime Standard Awards, which take place this week, and Buamim believes they will prove to be of major importance in strengthening the maritime cluster in Dubai in a way that adds value to all parties.”We are seeing a lot of investment coming in because of the cluster, and that is the case with both rig projects and ship repair and conversions as well. This is a clear indication that the region is being recognised as having a cluster that provides the required capacity for major projects.”
The offshore market in particular is a key priority for the company going forward. In recent months Drydocks World Dubai has for the first time set up a stand-alone, dedicated rig division to target this work, while there are also plans to expand the dry berth capacity at Dubai Maritime City to meet the requirements of offshore support vessel operators.
Buamim concludes: ”I am looking forward to welcoming top executives and officials from across the region for The Maritime Standard Awards, which will provide a fantastic opportunity for us to come together and discuss potential developments on a business-to-business basis. These awards will be a platform on which we can build on what is already a highly promising future.”
