Petroleum Development Oman (PDO) has signed agreements worth over US$800mn to outsource its entire hoist fleet activities to Omani companies.
The firm signed 10-year deals with five local companies in a special ceremony organised at the Oil and Gas West Asia Exhibition and Conference.
The five Omani firms are Abraj Energy Services, MB Petroleum Services, Cactus Premier Drilling Services, BaOmar Oil Field Services, and the Mideast Integrated Drilling and Well Services Company.
They will provide work-over services, including modification, repair and maintenance, suspension and abandonment, on wells in PDO’s concession area.
Abdul-Amir Al Ajmi, external affairs and value creation director, PDO, said, “These contracts represent an important milestone for us as we deliver on our in-country value commitments for the country.
“For the first time in our history, our entire hoist fleet is fully owned and operated by Omani companies, underlining our effort to retain more of the wealth of the oil and gas industry in the Sultanate.
“These long-term agreements are testament to our belief that Omani businesses have the ability and professionalism to support our well engineering directorate so that it can continue to deliver well services safely, reliably, efficiently, on time and on budget.
“At the same time, they offer a fantastic opportunity to build the capability and experience of Omani crews as we move towards greater automation in our well engineering operations, as well as the opportunity to manufacture and assemble some of the awarded hoist units.”