PDO
Signs Integrated Drilling Services Contract with Weatherford

Muscat,
Sep 21 (ONA) — Petroleum Development Oman (PDO) signed today an integrated
drilling services contract with Weatherford for a three-year period, covering
the drilling of 274 wells in Marmul and the Greater Saqar area (in small fields
with a unified development model), in a step supporting PDO’s plans to increase
production and enhance operational efficiency.

Under
the contract, Weatherford will drill oil production wells and water injection
wells according to a phased implementation program that enables greater
execution efficiency, as well as more precise planning for drilling rigs and
resources and their allocation across the targeted fields.

The
contracting model is expected to achieve a cost reduction estimated at
approximately 20 percent compared to conventional pricing models, as well as
enhancing the ability to control costs and establishing clearer accountability
for execution and results.

Dr.
Aflah Said Al Hadhrami, Director General of Petroleum Development Oman, said
that the company’s ability to efficiently and responsibly grow production is
fundamental to maximizing value from the Sultanate of Oman’s hydrocarbon
resources. He noted that this agreement represents a new step forward toward
achieving this ambition and cementing production growth as one of the key
pillars in the Sultanate of Oman’s institutional transformation journey led by
the company.

He
added that PDO is committed to enhancing in-country value, developing local
capabilities, investing in Omani talent, and retaining as much value as
possible within the Sultanate of Oman.

For
his part, Girish Saligram, Chief Executive Officer of Weatherford, said that
the awarding of this contract embodies the company’s commitment to operational
excellence, innovation, and creating sustainable value. He emphasized that
through this project, the company will continue to contribute to achieving
PDO’s goals to maximize production efficiency and support the sustainable
development of fields, alongside building local capabilities, nurturing Omani
talent, and expanding opportunities across the local value chain.

He
explained that Weatherford will remain committed to execution efficiency and
maximizing the impact of in-country value, thereby contributing to supplying
the energy sector in the Sultanate of Oman and supporting national development
targets.

This
agreement represents PDO’s commitment to establishing long-term partnerships
with industry partners, combining commercial efficiency with a commitment to
the highest standards of health, safety, environment, and quality.

—Ends/AG