Press Release

UAE-based Maritime Industrial Services Co. Ltd. Inc. (OSE: MIS) today announced that it signed a US$ 55.4 mn contract this week with Abu Dhabi’s National Drilling Company (NDC) for the refurbishment of jack-up drilling rig ‘NDC Al Bzoom.’

The contract, which is MIS’ highest contract to date in its ‘refurbishment’ value stream, will cover the Rig Integrity Assurance Program (RIAP) as its base scope for the modification and refurbishment work on the rig.

The signing ceremony was held under the patronage of His Excellency, Mr. Abdalla Nasser Al Suwaidi, Chairman of NDC, and Abu Dhabi National Oil Company (ADNOC) Deputy CEO and Exploration & Production Director, with the contract being signed by Mr. Abdalla Saeed Al Suwaidi, NDC’s General Manager and Mr. Kevin Hudson, MIS Managing Director.

“We enjoy a solid business association with MIS. This is not the first time that NDC contracts MIS for its specialised rig refurbishment works, nor will it be the last time,” said Mr. Abdalla Al Suwaidi at the signing ceremony. “We look forward to a continued strong relationship with MIS.”

Mr. Kevin Hudson, MIS Managing Director, reiterated the sentiment, “This agreement builds on an excellent track record between the two companies. We will do everything in our capacity to ensure that this project further strengthens our partnership with NDC.”

Rig NDC Al Bzoom, which is a BAKER MARINE BMC- 150-IC design with a rated water depth capacity of 110 ft and drilling depth of 18,000 ft., will be used to drill oil wells in Abu Dhabi’s offshore fields upon completion.