The Company was incorporated on May 17, 1979, as a Pvt. Ltd company. Its first Chairman was Mr Shavax A Lal, ex-Secretary to the first Indian Governor General, Shri C.Rajagopalachari, and a prominent Mumbai businessman. The Managing Director was Rear Admiral Kirpal Singh, a war veteran, with a distinguished record in the Indian Navy. The two shared a vision of building national capacity for the nascent offshore oil industry by providing diving, underwater engineering and allied services for the new projects in Bombay High.
The Company formed an association with Taylor Diving & Salvage Company Inc, a subsidiary of the US-based Halliburton Group and commenced diving operations the same year. Through this association, DOEIL became the first Indian company to acquire the technology for all aspects of offshore diving and, underwater engineering. To date, it remains the leading Indian company in this field.
In 1983 the Company expanded its activities to include technical management of offshore supply vessels, anchor handling and towing vessels. Over the years the Company expanded its capabilities in this area to include technical management of ocean going general cargo vessels, mini bulk carriers, tug and barge flotillas and dynamically positioned multipurpose support vessels. In 1994 the Company acquired its first vessel, the GANGA DOLPHIN. The Company currently owns 9 vessels with three new vessels under construction.
With a 30 year track record of delivering on a range of underwater, on water and onshore projects,DOEIL has qualified to independently handle two major turnkey projects for ONGCL in 2008. That year the company's order book stood at US$112 million.
Since its inception, DOEIL has been meticulous in maintaining the highest international standards for safety of personnel and offshore environment. All the Company's products are certified to ISO 9001:2000 by the American Bureau of Shipping.
The Company has been guided by an eminent Board of Directors since inception. The current members are:
Starting with a modest paid up capital of just Rs. 5,500.00 in the year 1979-80, the Company went in for its Initial Public Offer in 1994. In order to acquire important assets needed for its expanding business, it also went in for Foreign Currency Convertible Bonds worth US$ 15 million in December 2005. The Company's paid up capital and reserves as on March 31, 2008 was Rs 73.72 crores and turnover for the year then ended was Rs 227.70 crores. Based upon its qualification as a Main Contractor for EPC contracts by ONGC this turnover is expected to increase over the next few years, barring unforeseen circumstances.
To protect shareholder value and maintain confidence in a challenging economic climate, the Company regularly reviews its Corporate Management functions and has strengthened its Audit Committee and internal auditing procedures. Our statutory auditors are Haribhakti & Co, our internal auditors are Aneja Associates and our principal bankers, since inception, are State Bank of India.
To keep pace with the new challenges of deepwater recovery of hydrocarbons and the impacts of Climate Change, DOEIL has begun work on establishing International Public-Private Sector cooperation for development of underwater technology and environment protection, search and rescue operations and setting up of training facilities. Recognizing the immediate global shortage of underwater professionals, the Company is launching its own in house training program for divers and underwater technicians and to ensure the Country can build up its pool of professionals with international certification.
For more information on Dolphin Offshore Enterprises please visit our website : www.dolphinoffshore.com
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