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GOL Offshore Ltd. Company History and Annual Growth Details

1983 - Great Offshore Ltd. started commending its business from the year 1983 as a part of Great Eastern Company Ltd and promoted by Mr Vijay K Seth.

1985 - Formed a joint venture Great Atwood Ltd with Atwood Oceanics Inc, USA and A H Bhiwandiwalla & Company to commence drilling and exploration activities.

1994 - It become first private sector operator of harbour tugs in India with the purchase of tug 'Malini'.

1995 - Great Atwood Ltd. was merged with The Great Eastern Shipping Co. Ltd.

1996 - It got the opportunity to become first Indian offshore company that gains ISO 9002 Certification.

1999 - The company established a subsidiary in Fujairah.

2000 - For Platform Supply Vessel (PSV), it signed a contract which is India's first PSV.

2001 - The company has a credit to become the first Indian offshore company to operate in Qatar.

2002 - It commenced North Sea operations with 'Malaviya Sixteen' and become the first Indian company to operate there.

- Further, it formed a joint venture United Helicharterers Pvt. Ltd., with Qatar General Petroleum Corporation and UB Air Pvt. Ltd. providing helicopter services to the offshore industry.

2003 - Achieved ISO 9001:2000 certification and got ownership to become the first Indian offshore company to achieve this accreditation.

2005 - It opened representative office in Malaysia.

- Commenced operations in South Africa.

- As a scheme of demerger, the Offshore Division of Great Eastern Shipping was merged with Great Offshore Limited from April 1st 2005, with transferring the offshore services business along with all assets, liabilities and people on a going concern basis.

2006 - Great Offshore Ltd took delivery of India's first fire fighting support vessel (FFSV), named 'Malaviya Twenty Five'.

- Company signed a contract with Bharati Shipyard Ltd for a new building 350 ft. Self Propelled (Cantilever type) Independent leg, Jack Up Drilling unit.

-The company got DNV's Integrated Management System (IMS) accredition that confirms its ISO 9001:2000, ISO 14001:2004 & OHSAS 18001:1999 standards.

- It demerged its offshore operations to form Great Offshore Ltd, into a separate corporate entity in October 2006.

- The shares of the company had been listed and admitted for trading on the BSE and NSE with effect from 21st December, 2006.

2007 - Vijay K. Sheth, the Managing Director and a co-promoter of Great Offshore (GOL), acquired the 14.43% stake of five other stakeholders, to takeover management control of the company.

-Global private equity firm The Carlyle Group has invested USD 41.1 million in Great Offshore Ltd.

- It had won Rs.10 bn contract for its jack-up rig from Oil & Natural Gas Corp. Rig will start operating under the five-year contract by May 2009.

2008 - The Finance Ministers' proposal in the Union Budget 2008-09 that ships hired to support drilling activities would attract a 12.5% service tax, will make oil and gas exploration more expensive. Due to this, Great Offshore Ltd will have to suffer hit with the payment of service tax from own pocket.

-Great Offshore Limited has appointed Ms. Falguni Sanghvi as Company Secretary of the Company and Compliance Officer in accordance with the Listing Agreement with effect from June 2, 2008.


- Great Offshore Ltd has appointed Mr. Chandan Bhattacharya as an Additional Director in the Board Meeting held on December 02, 2008.


- Great Offshore Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 09, 2009, inter alia, has appointed Lt. General Deepak Summanwar and Dr. Ram Nath Sharma as Directors of the Company.

- Great Offshore Ltd has appointed Shri. Soli C Engieer as an Executive Director of the Company w.e.f. July 29, 2009.