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PDO Signs $240m Service Agreement

Source: www.gulfoilandgas.com 9/13/2012, Location: Middle East

Petroleum Development Oman (PDO) signed an agreement awarding a $240 million contract to Shaleem Petroleum Company SAOC, a local Omani community contractor, for the provision of hoist services.

Raoul Restucci, Managing Director, signed the agreement on behalf of PDO, while the local contractor was represented by Abdulaziz Salim al Naqsh al Mahri, Chairman. The contract requires Shaleem to continue to provide maintenance and workover services for PDO’s oil wells in the south of Oman for a 10-year period, extendable by a further two years. “This joint work between our two companies is only one example of PDO’s care for the local communities, and also reflects His Majesty the Sultan’s concern for the welfare of the local people,” said Al Mahri.

“Over the years, PDO has continuously provided strong support and assistance to the local community companies, not only by providing work contracts, but also by providing technical consultations and financial advice,” the Chairman added. Founded in 1998, Shaleem Petroleum is one of the first Local Community Contracting companies (LCCs) to launch operations as a service-provider to PDO and other oilfield companies. The firm is 100 per cent Omani-owned and represents the interests of over 400 local community shareholders.

A specialist in oil well maintenance and workover services, Shaleem won its first contract from PDO — valued at $8.5 million — in 2000. Five years later, the company became the first Local Community Contractor to enter mainstream oil and gas workover and well maintenance operations by winning a PDO online bid, against local and international competition. The initial five-year contract, valued at $87 million, was extended for a further two years. To date, the company has complete the maintenance and servicing of more than 2,300 wells.

Shaleem employs over 260 people, of whom 76 per cent are Omanis who are working at every level of the business in head office and in the field, in jobs ranging from trainee roustabout to field superintendent. To fulfil its latest contract, Shaleem plans to recruit an additional 50 suitably qualified Omanis to join its field hoist crews.

“The value of investing in the local communities is also apparent because local community contracting companies are now competing successfully on merit with international companies. Moreover, the local community companies are also delivering these services at lower prices.

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Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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