We successfully evaluated tenders for building two modern maintenance vessels which shall join HOSC's growing fleet in June and September 2011 and immediately start employment with Qatar Petroleum. During the year, HOSC acquired a third construction support vessel, which was modified, installed with crane, equipped with necessary C& M accessories and mobilized on a new contract with QP in November 2010.

The department bid for two major tenders in 2010 and won both with a total contract value of about QR 335 million. Total profit of the department was over QR 43 million which is substantially higher than the budgeted profit due to revenues earned from the third construction vessel and the savings made by operating the contracts economically.

During 2011, we look forward to taking delivery of two vessels and mobilize them on the newly won QP contract. We shall also explore opportunities for expanding our activities to other areas including providing skilled manpower and carrying out maintenance works on land based installations.