Latest news with #AbrajEnergy
Zawya
15-05-2025
- Business
- Zawya
Abraj Energy signs deal with BP for drilling rig in Oman's Block 61
Muscat – Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025. The agreement was formalised on the sidelines of the Oman Petroleum & Energy Show (OPES) and Oman Sustainability Week (OSW) 2025. This partnership is set to reinforce Abraj's position as a reliable and leading partner in Oman's oil and energy sector. The contract also reflects Abraj's continued commitment to operational excellence, occupational safety, and the delivery of innovative services and solutions that support and advance the energy sector in Oman. In a statement to Oman News Agency, Eng Saif bin Said al Hamhami, CEO of Abraj Energy Services, said, 'We are proud of this strategic partnership with BP Oman to provide a drilling rig in Block 61, building on a collaboration that has spanned more than a decade in the drilling services sector. This marks a new milestone in our efforts to expand our operational reach and strengthen our presence in the local market through high-quality, impactful projects.' Hamhami added that the agreement demonstrates the strategic partners' confidence in Abraj's efficiency and capability to deliver safe, effective operational solutions that adhere to the highest international standards. He emphasised the company's steadfast commitment to maximising in-country value, investing in the development of national talent, and enhancing operational sustainability. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Zawya
07-05-2025
- Business
- Zawya
Oman: Abraj secures $36mln drilling contract from BP for Block 61
Muscat – Abraj Energy Services, Oman's leading oil and gas services provider, has announced the award of a significant new contract by BP Exploration (Epsilon) Limited, marking a renewed collaboration between the two companies in Block 61, one of the sultanate's largest gas-producing areas. In a disclosure to the Muscat Stock Exchange, Abraj confirmed it had secured a contract from BP Exploration (Epsilon) Limited for the provision and operation of an onshore drilling unit. The contract is for an initial term of three years, with an option to extend for a further two years, highlighting the long-term nature of the partnership. Abraj stated the contract is expected to generate approximately RO14mn in revenue over its duration, bolstering the company's financial position and reaffirming its strategic role in Oman's upstream energy sector. Abraj said that the drilling rig for this project was previously operated under a contract with BP but had been stacked since the expiration of that agreement last year. The company noted the rig is now scheduled to commence operations in the fourth quarter of 2025. Block 61, situated in central Oman, is home to the massive Khazzan and Ghazeer gas fields, which play a crucial role in supporting the country's gas supply and export capacity. BP operates the block in partnership with OQ and Petronas, with its output contributing significantly to both domestic energy requirements and LNG exports. Abraj signs term sheet with Algeria's Sonatrach In a separate disclosure to the Muscat Stock Exchange on Tuesday, Abraj Energy Services also announced the signing of a term sheet with Algeria's state-owned energy giant Sonatrach, setting the foundation for a strategic partnership focused on delivering integrated oilfield services in Algeria and potentially beyond. The agreement, finalised on Monday, outlines plans for a joint effort to offer a wide range of services – including drilling, workovers, and well intervention – in one of North Africa's most important oil and gas markets, with scope for international expansion. Abraj noted in its disclosure that the partnership aims to leverage its considerable expertise and resources to deliver efficient, high-quality oilfield services in Algeria's energy sector. This term sheet builds upon the Memorandum of Understanding (MoU) signed between the two companies in Muscat on April 24, 2024 and represents a key milestone in enhancing energy sector cooperation between Oman and Algeria. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Zawya
06-05-2025
- Business
- Zawya
Oman's Abraj, Algeria's Sonatrach partner for oilfield services venture
Oman's Abraj Energy Services announced on Tuesday that it signed a term sheet with Algeria's state-owned oil company Sonatrach to establish a joint venture specialising in integrated oilfield services (drilling, workover and well services). The development follows a memorandum of understanding signed by the two companies on 24 April 2024 in Oman's capital Muscat. The MSX-listed Abraj said the strategic partnership with Sontrach includes potential for global expansion. Financial details weren't disclosed. (Writing by Majda Muhsen; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
