Abraj
Energy Services Expands Strategic Partnerships

Muscat,
29 Jul (ONA) — Abraj Energy Services has signed a strategic agreement with
Petroleum Development Oman (PDO) to provide six onshore drilling rigs for
Concession Area 6, a key strategic asset that forms a fundamental pillar of
Oman’s energy sector.

Drilling
operations are scheduled to commence gradually starting in the fourth quarter
of 2026. This agreement marks a significant expansion point within the
long-standing partnership between Abraj and PDO, reflecting Abraj’s operational
efficiency in delivering competitive, safe, reliable, and high-performance
drilling solutions that align with the highest international standards.

Houd
Khalfan Al Barashdi, Acting Director of Business Development at Abraj Energy
Services, stated that the signing of this agreement reaffirms Abraj’s
operational excellence and the deep trust the company has earned by providing
competitive, reliable, safe, and efficient solutions and services to its
partners, supported by its advanced fleet and unique technical expertise. He explained
that the company is expanding its operational scope with PDO to achieve common
goals, affirming its pivotal role in empowering the oil and energy sector and
enhancing in-country value.

In
the context of its continuous expansion, Abraj recently signed an additional
contract with BP Oman to provide drilling services in Concession Area 61.
Furthermore, it secured a new contract with ARA Petroleum LLC to drill three
wells in Concession Area 44. The company also expanded its operations in the
Wafra Joint Operations field between Kuwait and Saudi Arabia by signing a
contract to provide a third 3000-horsepower drilling rig. This move reflects
Abraj’s regional expansion strategy and strengthens its position in strategic
oil and gas projects across the region.

Eng.
Sulaiman Abdullah Al Salmi, Team Leader of Gas Well Drilling at Petroleum
Development Oman, stated that the strategic relationship with Abraj Energy
Services has demonstrated its continuous commitment to PDO’s operational,
health, and safety standards. He noted that this agreement confirms the joint
commitment of Abraj and PDO to enhance Oman’s oil and energy sectors through
advanced and safe solutions that contribute to achieving operational efficiency
and sustainability.

Since
2020, Abraj has contributed over RO 850 million in in-country value, achieving
an Omanization rate of approximately 93 percent. In the past three years alone,
the company’s operations related to PDO have generated RO 79.1 million in local
value, equivalent to 78 percent of total expenditure. These figures underscore
Abraj’s strong commitment to supporting national priorities and its pivotal
role in the development of Oman’s oil and energy sectors.

It
is worth mentioning that Abraj concluded 2024 with positive operational and
financial results. Revenues reached RO 151.6 million, operating profit before
interest, taxes, and depreciation (EBITDA) was RO 53 million, and net profit
after tax was RO 16.9 million.

The
company also recorded exceptional occupational health and safety indicators,
completing three consecutive years of incident-free and lost-time injury-free
operations across all its operational units. Drilling rigs achieved high
utilization rates exceeding 86 percent, and well maintenance rigs reached 100
percent, reflecting the long-term resilience of its operations and partners’
deep trust in its services.

—Ends/AG