Skip to content Skip to Search
Skip navigation

Oman’s Abraj Energy Services to build 3 drilling platforms in Kuwait

By Pramod Kumar
Abraj Energy Services
the company is pre-qualified to provide various services in Kuwait, Saudi Arabia and Algeria

Oman-based Abraj Energy Services SAOC has signed a strategic partnership with Saudi Arabian Chevron and Kuwait Gulf Oil Company to enhance drilling and oil extraction in the onshore partitioned neutral zone in the southern part of Kuwait.

Under the five-year deal, Abraj Energy Services will build three drilling platforms and provide other related services for the Wafra oil field project.

Saif Al Hamhami, Abraj Energy Services CEO, said that the company is pre-qualified to provide various services in Kuwait, Saudi Arabia and Algeria, where its advanced rigging fleet is linked to long-term contracts with leading national and international companies in the field of exploration and production.

In line with its growth strategy, the company recently launched its initial public offering on the Muscat Stock Exchange on February 20. 

This was part of the exit plan announced by the Oman Investment Authority to facilitate investment opportunities for local and foreign investors in tandem with the goals of Oman Vision 2040. 

The offering for the first category extends from February 20 to March 2, 2023, while the subscription stage for the second category is from February 20 until March 1, 2023.

Latest articles

Flooding in Dubai affected many people's homes. Emaar has promised .free repairs for its residents, and an upgraded sewerage system is planned

Emaar promises free repairs as Dubai launches sewerage system

Emaar Properties is offering free repairs to residents whose homes were damaged during this week’s extreme flooding, as Dubai also announced an AED80 billion ($22 billion) sewerage system. The developer announced on Friday that it would repair all homes in its communities affected by the historic levels of rain, “at no cost to residents”. Emaar’s […]

A customer paying with a credit card inside the Black Friday Market in Beirut. Lebanon wants more people to move away from cash

Lebanon launches plan to promote use of bank cards

Lebanese central bank Banque du Liban announced a new agreement on Thursday that it hopes will result in a rebound in the use of bank cards. As part of the agreement, Mastercard and Visa will lower card fees on transactions, particularly for people with bank accounts based outside Lebanon. In a press release, the bank […]

Construction work in Kuwait. Nurseries, schools and shops are being built for the new residential district of Al Metlaa

Kuwait signs $140m contracts for Al Metlaa development

Kuwait’s Public Authority for Housing Welfare (PAHW) has signed two contracts worth KD42 million ($140 million) to construct public buildings in Al Metlaa, a new residential district north of Kuwait City. Nurseries, stores, schools and shops will be included, state news agency Kuna reported. Electricity connections have been provided for 109 buildings in the district, […]

Workers at Cano Limon oil field in eastern Colombia. Oil is one of the country's largest exports

UAE strikes Colombia deal to strengthen Latin American links

The UAE has strengthened trade relations with Latin America after signing a comprehensive economic partnership agreement with Colombia, just days after a Cepa deal was struck with Costa Rica. Officials from the UAE and Colombia put pen to paper on an agreement that will cut tariffs and remove trade barriers between the two countries. UAE […]