Gulf International Services Q.S.C. (GIS) was incorporated as a Qatari shareholding company on 12 February 2008, by Qatar Petroleum (QP), a wholly-owned Qatari government company. GIS is registered under Commercial Registration number 38200. Prior to the IPO, GIS was fully owned by QP and on 26 May 2008, QP listed 70% of the company's issued capital in the Doha Securities Market.
GIS has significant investments in national and international oil and gas industry, including well support services, offshore and onshore drilling services, helicopter maintenance and transportation services, insurance and reinsurance services.
Currently, GIS acts as a holding company which owns and controls stakes in the following companies:
- 100 per cent ownership of Al Koot Insurance and Reinsurance Company S.A.Q. (Al Koot);
- 69.99 per cent ownership of Gulf Drilling International Limited Q.S.C. (GDI); and
- 100 per cent ownership of Gulf Helicopters Company Q.S.C. (GHC).
Headquartered in Doha, the dynamic capital city of Qatar, GIS is ideally positioned to play a major role in the economic and social development of Qatar and the Middle East & North Africa (MENA) region.
The objective of GIS has been, and remains, to acquire shares, assets and interests in companies engaged in the provision of services to the national and international oil and gas industry.
GIS was incorporated with Qatar Petroleum (QP) as its sole shareholder, with an initial capital of QR 5,000,000 divided into 499,999 Ordinary Shares and 1 Special Share. All shares are fully paid in cash. GIS' authorized capital is QR10 billion. On 24 February 2008, A "Reorganisation" was effected by GIS resulting in a capital increase to which QP subscribed though contribution of all of QP's shares in the Portfolio Companies in exchange for 122,369,996 newly-issued shares of GIS. The present issued capital of GIS is QR 1,228 billion divided into 122,870,000 Ordinary Shares of QR 10 each.
On 26 May 2008, QP divested 70% of the issued capital in the Doha Securities Market.
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