Maridive and Oil Services, an Egyptian company specializing in offshore marine and oil support services, has approved capital expenditure of up to $16 million to purchase a new-build anchor handling tug supply (AHTS) vessel equipped with a diesel-electric propulsion system.

The decision was adopted during a board meeting held on October 25, 2026, chaired by Shahira Magdy Zeid, Chairperson of the Board of Directors.

The approved expenditure covers the vessel’s purchase and the completion of the related acquisition procedures. The company also stated that Article 44 of the Listing Rules does not apply to the transaction.

Maridive and Oil Services was established in 1978 in Port Said. It provides offshore support vessels, marine services, and support for oil and gas operations. 

It reported an 11% year-on-year increase in standalone operating revenues to $43.09 million in H1 2026. The company also turned a $22.32 million net loss in H1 2025 into a net profit of $4.55 million in H1 2026