Abraj, PDO expand partnership with new contract
Hood bin Khalfan al Barashdi, Acting General Manager of Business Development at Abraj, said the agreement highlights the company's reputation for operational excellence and the trust it has earned through safe and efficient service delivery. He emphasised that the deal reflects Abraj's broader strategy to strengthen its role in advancing the energy sector while maximising in-country value (ICV).
The partnership with PDO forms part of Abraj's wider growth strategy. The company has recently secured additional contracts, including a new deal with BP Oman for drilling services in Block 61, and an agreement with ARA Petroleum Limited to drill three wells in Block 44. It has also reinforced its regional presence through the deployment of a third 3,000-horsepower rig in the Wafra field, jointly operated by Kuwait and Saudi Arabia.
Engineer Sulaiman bin Abdullah al Salmi, Head of PDO's Gas Well Drilling Team, noted the enduring commitment shown by Abraj to operational integrity, health, and safety. He said the latest agreement reflects the joint ambition of both parties to drive sustainable growth in Oman's oil and energy sectors.
Since 2020, Abraj has contributed more than RO 850 million in ICV, achieving an Omanisation rate close to 93 per cent. Over the last three years, activities linked to PDO alone have generated RO 79.1 million in ICV—accounting for 78 per cent of total spending. These figures underscore Abraj's contribution to national development goals.
In 2024, the company posted strong financial results with revenues of RO 151.6 million, EBITDA of RO 53 million, and a net profit of RO 16.9 million. Abraj also achieved a remarkable safety record, completing three consecutive years of operations with zero lost-time injuries (LTI) across all units. Rig utilisation rates exceeded 86 per cent for drilling and reached 100 per cent for well maintenance, further demonstrating the resilience and reliability of its services. — ONA
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