PDO Agrees Contracts with Omani Firms Worth $800 M

PDO Agrees Contracts with Omani Firms Worth $800 M

Petroleum Development Oman (PDO) has agreed contracts with five local companies worth more than $800 million, Times of Oman reported.

The contracts constitute 10-year deals in which the firms will provide work-over services at PDO wells, including modification, repair and maintenance, suspension and abandonment.

The five Omani companies are: Abraj Energy Services, MB Petroleum Services, Cactus Premier Drilling Services, BaOmar Oil Field Services, and Mideast Integrated Drilling & Well Services Company (Midwesco).

PDO External Affairs and Value Creation Director Abdul-Amir Al Ajmi said: “These contracts represent an important milestone for us as we deliver on our In-Country Value (ICV) commitments for the country.”

The five local companies will support small and medium-sized enterprises (SMEs) and Local Community Contracts (LCCs) as well as making contributions to a fund that trains and enhances the skills of Omanis working the the oil and gas sector and beyond.

On March 19, the PDO announced a new gas find with estimated recoverable reserves of more than 4 trillion cubic feet (tcf) and 112 million barrels of condensate at two reservoirs named Barik and Miqrat in the northern part of their concession area.


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