UAE-based Maritime Industrial Services Co Ltd has achieved a Middle East first with the completion of a newly-designed offshore jack-up drilling rig.

The SeaWolf Oritsetimeyin (Hull 104), is also a world first – this particular design is the world’s first Friede and Goldman Super Mod 2 ever to be built.
The SeaWolf Oritsetimeyin, which is scheduled for actual delivery to the client shortly, is currently undergoing intensive commissioning and testing procedures before final delivery. Along with its sister rig, the SeaWolf Onome, this rig is one of two offshore jack-up drilling rigs being built by MIS for SeaWolf Oilfield Services, the Nigerian drilling company, in contracts worth $254 million.
 “The task has not been easy and completion has been somewhat delayed due to the many challenges and stumbling blocks,” says MIS managing director Jerry Smith. “However, for a yard with no previous record in building new rigs, we consider this an exceptional feat – especially with a new design that has never been built before anywhere in the world. We are pleased to confirm that this steep learning curve and the experience gained on those two first rigs, is already delivering results with our third rig, the KS Endeavour (Hull 107) scheduled for delivery well ahead of its contract delivery date.”
Capitalising on the capacity shortage in traditional new-build yards in Singapore, China and the US Gulf Coast, MIS entered the new-build market two years ago, making it the first yard in the Middle East to offer this value stream. Today MIS has an order book of $1 billion and a total of seven rigs under construction at its yard in Sharjah. The most recent orders placed this year were by Mosvold Middle East Jackup for Hulls 106 and 108 and by Bahrain’s MENAdrill for Hulls 109 and 110.  All five rigs under construction following the two Seawolf rigs are scheduled for delivery throughout 2009 and 2010.
MIS now joins the ranks of the world’s new-build yards for major offshore jack-up drilling rigs, in line with the company’s strategy of managing a diverse and balanced business portfolio that combines new-build with its core strengths in traditional business.
“This represents full production for the next two years and we are confident in the future of the jack-up rig market which is showing continued long-term demand,” says Smith. “Although there is capacity across all rig segments, this will be tempered by ageing  fleets due to be taken off-stream and by the day rates which still look strong. Our achievements in this market demonstrate that the Middle East is not just a source of oil wealth, it is also a source of oil and gas engineering and excellence.”
Both SeaWolf rigs are of a Friede and Goldman Super Mod 2 design with 30,000 foot rated drilling depth and an operating water depth capability of 300 feet (92 metres).  The SeaWolf Onome, SeaWolf’s second jack up rig under MIS’ construction, is scheduled for delivery to SeaWolf in February 2009.
“Along with the SeaWolf Oritsetimeyin we have built MIS’ new-build reputation, and the reputation of Sharjah as not just a contributor to the oil and gas industry, but also a global player in the rig-building industry.
Time and again, the UAE has done what many other countries would have deemed impossible; in fact it’s known as the ‘country of firsts’,” says Smith.
“Since the mid-1980’s, when we set up our yard right here in Port Khalid, the relationship between Sharjah and MIS has grown from strength to strength, which both motivated and dedicated us to fulfilling this emirate’s enormous growth potential and its ability to benefit the region. So, today is as much a celebration for Sharjah as it is for MIS,” he says.
“In this current global economic landscape we remain confident and committed to partnering and servicing this industry in the UAE region, the greater Gulf and the Middle East. We embrace the confidence that the Gulf states have shown in their commitment to maintain and raise their oil and gas production levels to supply the world’s ever increasing demand, even in this period of financial stress, with major projects having already been confirmed in markets such as Saudi Arabia, UAE, and Qatar, to name a few. “Speaking of the rig market in particular, we are confident that there will be continued demand for jack-up rigs in the longterm; although there is capacity across all rig segments, this will be tempered by ageing fleets due to be taken off-stream and by the day rates still looking strong. Our optimism in the future coupled with a sensible approach to the market is a big part of what makes us who we are. This is what enabled MIS to take on the immense challenge of embarking on the new-build programme at the end of 2006, and emerging triumphant two years later,” he elaborates.
These are modest first steps for MIS in the new-build arena. This first rig has certainly not been an easy programme to embark on and the learning curve has been steep.
“Indeed, there have been delays in the completion of this, our first rig and we faced many challenges along the way. But we were unyielding in our determination to succeed and have invested much to streamline the process for future rigs. For a yard in Sharjah to be building its first-ever rig, and with this rig being the first ever F&G Super M2 to be built, we’re proud of this remarkable accomplishment today. We would not be here today if it were not for the trust that our international clients Mosvold, to whom the rigs were first contracted, and SeaWolf, the current owners, have placed in us. I would like to thank them at this stage for their faith in selecting a yard building its first rig and in their trust in our ability to build these rigs. This trust was recently proven by Mosvold’s second order of two rigs Hull 106 and Hull 108 that you may see already under construction,” says Smith.
The company is already seeing the benefits of the investments made and the learning curve experiences on the first two rigs. The third rig, the KS Endeavour (Hull 107) for KSAM2 Energy, is ahead of schedule and expected to deliver in third quarter 2009 rather than the contracted 1st quarter of 2010.
All of the five rigs under construction succeeding the two SeaWolf Rigs will be delivered throughout 2009 and 2010.
Over the past 29 years MIS has grown from scratch to a $400 million company today. Today, MIS stands with an impressive portfolio of $1 billion, and it continues to aim higher, through not just focusing on this new value stream, but by continuing its focus on all its other value streams: The company’s traditional and core operations that comprised its 29-year history.
“Yet none of our phenomenal growth is ever at the cost of MIS’ first class quality, professionalism, service, and of course our unwavering commitment to safety. Our track record for safety remains excellent – just two weeks ago, we received a safety award from Dubai Petroleum for achieving two years without an LTI,” he adds.