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Mr. Ziad Zeidan
Manager, Offshore & Marketing Dept.
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With rising Oil prices and increased drilling activities, year 2007 was a very busy year. During the year average daily fleet utilization rose to 45 vessels. Four newly built AHT Supply Vessels joined the fleet. The newly built DP1 AHT Supply Vessel Halul 26 was placed on a long term contract with Saudi Aramco, throght Hadi Al Hammam, thereby extending the company's activities to Saudi waters. We have also been successful to place two more Utility vessels with Saudi Aramco.
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The Department was awarded with contractes worth US $ 52 Millions. Our Client list includes Qatar Petroleum, RasGas, Occidental Petroleum of Qatar, QatarGas, Total E & P , Sime Darby Eng, Dolpin Energy and HBK Power Cleaning besides other construction and short term contractors.
The Remarkable achievement during year 2007 was the successful completion of the PSI Remotes caoting contract. In four years time an area of 99,211 M2 completed and handed over strictly in compliance with the required quality and Occidental Petroleum Standards. This Occidental project was a great accomplishment.
Offhore Department profit increased to Qrs 47 Million against the budgeted Qrs 30 Millions.
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