News -
Abu Dhabi literally Father of gazelle is the capital of, and the second largest city in the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western coast. The city proper, making up an area of 67,340 km2 (26,000 sq mi), had an estimated population of 860,000 in 2008.
Abu Dhabi houses important offices of the federal government, and is the seat for the United Arab Emirates Government and the home for the Emarati Royal Family.
Abu Dhabi has grown to be a cosmopolitan metropolis. Its rapid development and urbanisation, coupled with the relatively high average income of its population, has transformed Abu Dhabi, making the city more advanced than most other Arab cities. Today the city is the country's center of political, industrial activities, and a major cultural, and commercial centre due to its position as the capital. Abu Dhabi alone generated 56.7% of the GDP of the United Arab Emirates in 2008.
Abu Dhabi is home to important financial institutions such as the Abu Dhabi Securities Exchange, the Central Bank of the United Arab Emirates and the corporate headquarters of many companies and numerous multinational corporations. One of the world's largest producers of oil, Abu Dhabi has actively attempted to diversify its economy in recent years through investments in financial services and tourism.
Abu Dhabi is the third most expensive city in the region, and 26th most expensive city in the world. Fortune stated in 2007 that Abu Dhabi was the richest city in the world[8].
About Abu Dhabi Abu Dhabi houses important offices of the federal government, and is the seat for the United Arab Emirates Government and the home for the Emarati Royal Family.
Abu Dhabi has grown to be a cosmopolitan metropolis. Its rapid development and urbanisation, coupled with the relatively high average income of its population, has transformed Abu Dhabi, making the city more advanced than most other Arab cities. Today the city is the country's center of political, industrial activities, and a major cultural, and commercial centre due to its position as the capital. Abu Dhabi alone generated 56.7% of the GDP of the United Arab Emirates in 2008.
Abu Dhabi is home to important financial institutions such as the Abu Dhabi Securities Exchange, the Central Bank of the United Arab Emirates and the corporate headquarters of many companies and numerous multinational corporations. One of the world's largest producers of oil, Abu Dhabi has actively attempted to diversify its economy in recent years through investments in financial services and tourism.
Abu Dhabi is the third most expensive city in the region, and 26th most expensive city in the world. Fortune stated in 2007 that Abu Dhabi was the richest city in the world[8].
ABOUT US
Ensco International Incorporated ("Ensco") is a premier global offshore oil and gas drilling contractor, a service which is essential to oil companies in their worldwide exploration and development efforts. The Company's fleet of 52 rigs (including six ultra-deepwater rigs under construction) is strategically located in the most prolific domestic and international oil and gas markets and is managed through four major business units including: Asia & Pacific Rim Europe & Africa, North & South America and Deepwater.Highlights
Ensco's 43-rig premium jackup fleet is one of the world's largest and most capable, and the Company is significantly expanding its deepwater presence and will have eight ultra-deepwater semisubmersible rigs when its newbuild program is complete.Nine new jackup rigs were added since 1999. In addition, the Company invested over $1.3 billion in upgrading the capability and extending the service life of its jackup fleet. This renewal program strengthened Ensco's position at the higher-end of the premium jackup market.
No other company will have a larger, more cost-effective ultra-deepwater fleet than Ensco given the 8500 Series seven-rig construction program. The first in the Series, ENSCO 8500, was successfully delivered in the third quarter of 2008 with the other rigs to follow in 2009, 2010 (2), 2011 and 2012 (2). The first four rigs in the Series are committed to term drilling contracts that provide very attractive returns when compared to other industry ultra-deepwater rigs.
VISION
As the offshore driller of choice, we will go beyond what is expected to achieve a safe zero-incident workplace and to be the clear choice among employees, customers and investors.CORE VALUES
- Ethical behavior
- No harm to people, property or to the environment
- Success for employees, customers and shareholders
- Can-do attitude
- Operational excellence
1987
Company Assets
- Energy Services Company, Inc.
- 36 land drilling rigs
- 4 offshore drilling rigs
Significant events during the year ...
- Commenced trading as Energy Services Company, Inc. (formerly Blocker Energy Corporation)
- Acquired International Tool and Supply Company (ITS)
- Purchased three jackup rigs
- Purchased eight state-of-the-art land rigs and ENSCO Drilling Company
- Disposed of less competitive land rigs
1988
Company Assets
- 26 land drilling rigs
- 5 offshore drilling rigs
- 14 oilfield support vessels
Significant events during the year ...
- Raised $73 million from the public offering of cumulative convertible exchangeable preferred stock
- Purchased jackup rig for $10 million to work in the Gulf of Mexico
- Entered the marine transportation business through the acquisition of 14 oilfield support vessels
- Acquired 40% of Trition Engineering Services Company
- Commenced operations of ENSCO Technology Company a provider of horizontal drilling services to the petroleum industry
1989
Company Assets
- 24 land drilling rigs
- 5 offshore drilling rigs
- 16 oilfield support vessels
Significant events during the year ...
- Public offering of 12 million shares of common stock
- Formed partnerships which purchased a portion of the debt and equity of Penrod Drilling Corporation
- Leased two rebuilt offshore support vessels
- Acquired a supply company operating in West Africa
1990
Company Assets
- 24 land drilling rigs
- 3 offshore drilling rigs
- 18 oilfield support vessels
Significant events during the year ...
- Increased ownership position in Penrod Holding Corporation
- Sold two jackup drilling rigs ENSCO III and ENSCO IV
- Public offering of 12 million shares of common stock
- Leased two rebuilt offshore support vessels
1991
Company Assets
- 20 land drilling rigs
- 4 offshore drilling rigs
- 38 oilfield support vessels
Significant events during the year ...
- Increased ownership position in Penrod Holding Corporation
- Acquired Argosy Offshore Ltd., adding 20 offshore support vessels
1992
Company Assets
- 16 land drilling rigs
- 4 offshore drilling rigs
- 38 oilfield support vessels
Significant events during the year ...
- Increased ownership position in Penrod Holding Corporation
- Sold four inactive land rigs in connection with construction of four barge drilling rigs for work in Venezuela
1993
Company Assets
- 16 land drilling rigs
- 27 offshore drilling rigs
- 40 oilfield support vessels
Significant events during the year ...
- Acquired remaining interest of Penrod Holding Corporation (19 jackups and 3 land rigs)
- Four new barge rigs commenced operations in Venezuela
- Sold ENSCO Tool and Supply
- Opened shore-based operations for the Company's Gulf of Mexico rigs and boats in Broussard, LA
- Awarded an additional contract for four new barge drilling rigs for work in Venezuela
1994
Company Assets
- 33 offshore drilling rigs
- 35 oilfield support vessels
Significant events during the year ...
- Purchased two jackup rigs
- Sold land rig business
- Four new barge rigs commenced operations in Venezuela
- Began a major capital expenditure program to upgrade offshore jackup rigs
- One for four stock split on June 2
- Board of Directors authorized the repurchase of up to $50.0 million of the Company's shares. As of year-end, 201,400 shares were repurchased.
1995
Company Assets
- 34 offshore drilling rigs
- 37 oilfield support vessels
Significant events during the year ...
- Purchased a jackup rig in the North Sea
- Purchased full ownership in jackup rig from joint venture partner in Mexico
- Purchased six oilfield support vessels, four of which had been on long-term lease
- Company's name changed to ENSCO International Incorporated
- Listed on the New York Stock Exchange under symbol ESV
- Sold ENSCO Technology Company
1996
Company Assets
- 53 offshore drilling rigs
- 37 oilfield support vessels
Significant events during the year ...
- Acquired Dual Drilling Company (10 jackups and 10 platforms rigs)
- Purchased jackup rig in Southeast Asia
- Retired two platform rigs acquired in the Dual acquisition
1997
Company Assets
- 54 offshore drilling rigs
- 37 oilfield support vessels
Significant events during the year ...
- Purchased full ownership in jackup rig from joint venture partner in Southeast Asia
- Acquired ENSCO 100, a harsh environment jackup
- Opened Asia-Pacific Business Unit office in Singapore
- Two for one stock split on September 16
- Initiated payment of a $0.025 quarterly stock dividend
1998
Company Assets
- 50 offshore drilling rigs
- 36 oilfield support vessels
Significant events during the year ...
- Began construction of ENSCO 101, a harsh environment jackup rig, ENSCO 7500, a deepwater semisubmersible, and three barge rigs in Venezuela
- Sold four barge rigs in Venezuela
- Repurchased 5.5 million shares of ENSCO common stock at average cost of $13.50
1999
Company Assets
- 52 offshore drilling rigs
- 35 oilfield support vessels
Significant events during the year ...
- Construction completed on three barge rigs in Venezuela
- Sold two marine vessels and added a leased AHTS vessel
2000
Company Assets
- 54 offshore drilling rigs
- 28 oilfield support vessels
Significant events during the year ...
- Delivered the Company's first deepwater semisubmersible, ENSCO 7500
- Delivered ENSCO 101, a harsh environment jackup
- Joint Venture (75% Keppel Fels and 25% ENSCO) announced construction of ENSCO 102 to be delivered in 2002
- Sold seven marine vessels
2001
Company Assets
- 50 offshore drilling rigs
- 28 oilfield support vessels
Significant events during the year ...
- Retired two platform rigs and removed two barge rigs from service
- Repurchased 4.3 million shares of common stock at average cost of $19.37
2002
Company Assets
- 56 offshore drilling rigs
- 27 oilfield support vessels
Significant events during the year ...
- Acquired Chiles Offshore which owned four high-specification jackups (ENSCO 74, ENSCO 75, ENSCO 76, ENSCO 104) and one under construction, ENSCO 105
- Delivered ENSCO 102, a harsh environment jackup owned through a joint venture
- Entered the West African market with the relocation of ENSCO 100 from North Sea
2003
Company Assets
- 56 offshore drilling rigs
Significant events during the year ...
- Announced construction of ENSCO 106, a KFELS Mod V-B, to be delivered in 2005
- Divested fleet of oilfield support vessels exiting marine transportation business
2004
Company Assets
- 53 offshore drilling rigs
Significant events during the year ...
- Exercised option to acquire ENSCO 102 from joint venture
- Exchanged ENSCO 55 jackup, two platform rigs and $55 million cash for the construction of a KFELS Mod V-B, ENSCO 107, to be delivered in 2006
2005
Company Assets
- 45 offshore drilling rigs
Significant events during the year ...
- Delivered ENSCO 106 and purchased remaining interest in joint venture
- Announced construction of ENSCO 108, a KFELS Mod V-B, to be delivered in 2007
- Announced construction of second ultra-deepwater semisubmersible rig, ENSCO 8500, to be delivered in mid-2008
- Divested six barge rigs in Venezuela and one platform rig in the Gulf of Mexico
2006
Company Assets
- 45 offshore drilling rigs
Significant events during the year ...
- Announced construction of third ultra-deepwater semisubmersible rig, ENSCO 8501, with expected delivery in mid-2009
- Delivered jackup, ENSCO 107
- Announced the election of Dan Rabun as President and the promotion of Bill Chadwick to Chief Operating Officer
- Announced construction of fourth ultra-deepwater semisubmersible rig, ENSCO 8502, with expected delivery in late-2009
- Divested of last platform rig
- Carl F. Thorne retires from the position of Chief Executive Officer. He currently serves as non-executive Chairman of the Board
2007
Company Assets
- 46 Offshore Drilling Rigs plus 4 ultra-deepwater semisubmersibles under construction
Significant events during the year ...
- Dan Rabun is named Chief Executive Officer
- ENSCO is added to the S&P 500
- ENSCO is named as a Fortune 1000 Company
- Carl Thorne retires from the Board of Directors and Dan Rabun is elected as Chairman of the Board
- Announced construction of the Company's fifth ultra-deepwater semisubmersible, ENSCO 8503, with expected delivery in the 3rd quarter of 2010
2008
Company Assets
- 46 Offshore Drilling Rigs plus 6 ultra-deepwater semisubmersibles under construction
Significant events during the year ...
- Announced construction of the Company's sixth ultra-deepwater semisubmersible, ENSCO 8504, with expected delivery in the second half of 2011.
- Announced construction of the Company's seventh ultra-deepwater semisubmersible, ENSCO 8505, with expected delivery in the first half of 2012.
- Announced construction of the Company's eighth ultra-deepwater semisubmersible, ENSCO 8506, with expected delivery in the second half of 2012.
- ENSCO 74, a jackup in the Gulf of Mexico, was lost in Hurricane Ike.
- ENSCO 8500, the first in the 7-rig 8500 Series ultra-deepwater semisubmersible fleet, was delivered late in the 3rd quarter. The semi was wet-towed to the Gulf of Mexico to commence operations.
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