Dolphin Offshore Lines up Investments

Dolphin Offshore Enterprises (India) Ltd., an offshore construction and ship repair company for the oil and gas industry, has lined up investments worth Rs 1,000 crore over the next 5-6 years, a senior company official said. Dolphin has already invested $35m in the initial expansion plans like acquiring ships. Offshore construction being its main focus, Dolphin is looking at moving up the value chain with bigger contracts and would invest Rs 200 crore for expansion in this field. The company, which currently owns 12 ships, has ordered two more work boats and an offshore construction barge. Dolphin is currently bidding for the $32m barge bumper contract floated by ONGC. It is also registered with Saudi Aramco and is in the final stages of talks with Abu Dhabi National Oil Co. for offshore projects. It currently has a loose alliance with Iranian Offshore Engineering and Construction Co. and a tie-up with the Indian arm of Ukraine-based NaftoGaz for construction projects. [Source: http://sify.com]