BUSINESS

Grup Servicii Petroliere, strongest maritime drilling company

Grup Servicii Petroliere(GSP), company controlled bybusinessman Gabriel Comanescu,has a total investmentplan of USD 1.2 bn for the purchaseof vessels and oil rigs withfunds provided also by Chinesebanks.This year the company hasacquired three ships designed toprovide assistance to oil rigs. Theships were built in China, andthe cost of each was USD 35 M.The ships will work for Lukoilwho brought to Constanta Port adrilling rig for exploration operationsin the Black Sea. The threeships were bought with fundsprovided by two Chinese banks,Gabriel Comanescu said at theinauguration of the three ships inConstanta Port, on Friday. Headded that he would buy anotherone by the end of the year or atthe beginning of 2015. Theacquisition of the four ships ispart of an investment plan specifyingthe purchase of eight units.Four of them will be bought nextyear, each ship entailing aninvestment of USD 70 M.According to Comanescu,GSP will open a subsidiary inTurkey this year, where the shipsthat will be replaced with thenew ones will be taken. GSP alsowants to invest USD 600 M in anew oil rig with the capability ofdrilling in deep waters, as well asanother one evaluated at USD200 M. Comanescu announcedthat GSP’s intention was toexpand activities in the North ofRussia and buy new oil rigs andships for maritime drilling. In2005, the company bought fromPetrom six oil rigs for approximatelyUSD 100 M. The GSPfleet currently includes eight oilrigs, 13 functional ships, twotechnical ships and two heavyduty cranes. GSP estimated aturnover of approximately USD400 M this year.

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