Halul Offshore Services subsea division, Qatar Subsea Services continues to provide subsea solutions to Oil and Gas companies within the region. Originally formed in 1988, QSS has steadily extended its capabilities and scope and is now one of the most successful Subsea companies in the region. While 2010 has seen a large reduction in activities worldwide, QSS has managed to maintain revenue levels equal to those of previous years due to long term contracts with Qatar Petroleum. During this year QSS completed 18 years of continual operations for QP with completion of our fourth long term Diving Support Services contract.

This year has seen Qatar Petroleum award QSS with two new long term contracts of 3 and 5 years which will mean we continue to provide Diving and ROV services to QP until 2015. Also this year Halul added a second Air Diving and ROV support vessel the Halul 41 to its fleet. In 2011 HOSC will take delivery of a new Saturation Diving and ROV support vessel which through utilisation of in house expertise and knowledge will be specifically optimised to regional requirements and is currently under construction.

QSS are looking to expand operations to Saudi Arabia with the opening of our new joint venture company Halul United. With the new additions to our fleet QSS aim to look further overseas for opportunities to expand. The expansion of our fleet should position QSS to be ready for the expected upturn in activity expected in 2012. Current plans anticipate HOSC to be owning and QSS operating two Air Diving support vessels and three Saturation Diving support vessels by the end of 2012, both new Saturation DSV's will be outfitted with state of the art 18 man Saturation Diving systems, 100 ton heave compensated cranes and integrated ROV and Air Diving facilities.

QSS will continue to offer Diving Services in the region which will include Subsea Asset integrity inspection of Platforms, Pipelines, wellheads and SBM's. Construction services will include spool piece, conductor and riser installation, hot taps and SBM change outs.