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

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.