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FinancialNews
27-02-23
Oman’s Abraj Energy creates strategic cooperation to extract oil in Kuwait
(MENAFN) Oman’s oil and gas drilling services company Abraj Energy is prepared to search for oil in Kuwait as the firm inked an additional cooperative corporation deal with Kuwaiti national oil firm Kuwait Gulf Oil Co. as well as Saudi Arabian-located chemical plant Saudi Chevron Co., as said in a statement.
Under the terms of the deal — which is going to last for a time span of five years — Abraj Energy is going to seek into methods to extract as well as further explore oil in the bordering nation.
The agreement is going to also witness Abraj Energy create three rigs for drilling and facilities at the Wafra field venture in Kuwait, as mentioned in a report.
The strategic cooperation comes within the guideline of Abraj Energy’s target of reinforcing the cooperation and growing its works in the Middle East and North Africa area.
Last month, the oil and gas drilling services company declared strategies to list up to 49 percent of its stakes on the Muscat Stock Exchange in March via an initial public offering, in line with a firm announcement.
MENAFN27022023000045014228ID1105651082
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