Abraj Energy Services is changing its name as it prepares to perhaps float on the Muscat Stock Exchange of Oman later this year.
In a statement, the company called the identify a refocusing on modernisation and innovation of its service offerings. Abraj currently offers a range of services including drilling and workover rigs as well as fracturing, cementing and coiled tubing services. The company was the first MENA-based company to launch integrated fracking services, pioneering the development of unconventional deep tight gas wells.
“Our transformation into a global brand reinforces a commitment to continue leading the charge in the drilling and oilfield services sector, serving our clients, shareholders and the Sultanate of Oman to the highest standard,” said Ayad Al Balushi, Chairman of Abraj in the statement.
“It is amongst our foremost priorities to contribute to the Sultanate’s sustainable economic development, which we look to foster through enhancing in-country value and exploring ways to make drilling practices greener and more efficient. Abraj’s new brand identity is a visual manifestation of the company’s bright, ambitious future, yet pays homage to the successes we have achieved thus far,” Al Balushi added.
The re-branding comes ahead of the company’s participation in the Muscat Stock Exchange (MSX) roadshow. The company is reviewing the process of listing on the MSX, currently subject to review and necessary regulatory approvals.
With almost 2,000 national employees and a 93 percent Omanization rate, they are regarded as a key player in Oman’s oil and gas services industry. The company has developed a strong supplier network, enabling adoption of cutting-edge technology that, when paired with their staff, assure operational safety and effectiveness. Companies are working harder to transition to sustainable modes of business as the GCC keeps up its efforts towards a sustainable future.
