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Oman's "Abraaj Energy" signs a partnership to extract oil in Kuwait

 The company will build three platforms for drilling and services in the Wafra field project

The term of the agreement with the Saudi Arabian Chevron Company and the Kuwaiti Gulf Oil Company is up to five years

Oman's Abraaj Energy Services Company has signed a five-year strategic partnership with Saudi Arabian Chevron and Kuwait Gulf Oil Company in the field of drilling and oil extraction, according to a statement issued by the company today.

The company will build three drilling platforms and related services in the Wafra field project in the State of Kuwait, which comes as part of its moves to expand its operational operations in the drilling services market in the Middle East and North Africa region.

Earlier, Abraaj Energy Services announced the listing of its shares on the Muscat Stock Exchange, as part of the exit plan announced by the Oman Investment Authority from a number of government investments to find investment opportunities, which will be the largest offering in the Sultanate of Oman since 2010.

Also read: OQ offers 49% of Abraaj Energy for public subscription on the Muscat Stock Exchange

According to the company's statement today, the aim of the partnership with the signatory company includes expansion in the regional and global markets, diversification of the portfolio of services provided by Abraaj, as well as the exchange of experiences and the adoption of best practices in the fields of drilling, sustainability and technology in the sector.

Previous data for “Abraaj Energy Services” indicates that the offering for the first category in the subscription extends from February 20 to March 2, while the subscription phase in the second category extends from February 20 to March 1.