Abraj Energy Services is rebranding, as the firm looks towards a potential listing on Oman’s Muscat Stock Exchange later this year.
In a statement, the company called the identity 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.
Recognised as core entity in Oman’s oil and gas services sector, they employ over 2,000 nationals boasting a 93 percent Omanization rate. The firm has forged a robust network of suppliers, enabling adoption of advanced technologies that combined with their workforce ensures operational safety and efficiency. As the GCC continues its efforts towards a sustainable future, companies are making extra efforts to expand into sustainable ways of operation.
Source:https://www.arabianbusiness.com/industries/energy/abraj-energy-services-rebrands-ahead-of-possible-listing-on-muscat-stock-exchange