BUSINESS REPORTER
MUSCAT, SEPT 21
Petroleum Development Oman (PDO) has awarded Weatherford a three-year integrated drilling services contract covering 274 wells in Marmul and the Greater Saqr Standardised Satellite Fields Development, as the company seeks to increase production while reducing costs.
Weatherford will deliver oil production and water injection wells through a phased programme intended to improve operational efficiency and allow more predictable planning of rigs and other resources across the fields.
PDO said the integrated contract model was expected to lower costs by about 20 per cent compared with conventional pricing arrangements while providing greater cost certainty and strengthening contractor accountability.
“Our ability to grow production competitively and responsibly is fundamental to maximising the value of Oman’s hydrocarbon resources,” PDO Managing Director Dr Aflah bin Said al Hadhrami said.
“This agreement marks another important step in advancing that ambition, supporting production growth as a key pillar of our Journey of Transformation, For Oman,” he added.
Al Hadhrami said the contract would also support PDO’s local-content objectives by investing in Omani talent, building national capabilities and retaining more economic value in the Sultanate of Oman.
Weatherford President and Chief Executive Officer Girish K Saligram said the contract would build on the operational performance and efficiencies achieved through earlier work in the Marmul and Greater Saqr fields.
“This award reflects our shared commitment to operational excellence, innovation and long-term value creation, while underscoring PDO’s confidence in Weatherford’s ability to consistently deliver safe, reliable and high-quality services,” Saligram said.
He said Weatherford would support PDO’s efforts to maximise production efficiency and promote sustainable field development while expanding opportunities across Oman’s in-country value chain.
The two companies said the agreement would combine greater commercial discipline with high standards of health, safety and environment performance and service quality.
PDO said long-term partnerships with oilfield service companies would remain central to its plans to raise operational efficiency, support production growth and create sustainable value for Oman.
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