Petroleum Development Oman (PDO) has signed an integrated drilling services contract with Weatherford for a three-year period, covering the drilling of 274 wells in Marmul and the Greater Saqar area (in small fields with a unified development model), in a step supporting PDO's plans to increase production and enhance operational efficiency.
Under the contract, Weatherford will drill oil production wells and water injection wells as per a phased implementation programme that enables greater execution efficiency, as well as more precise planning for drilling rigs and resources and their allocation across the targeted fields.
The contracting model is expected to achieve a cost reduction estimated at 20% compared to conventional pricing models, as well as enhancing the ability to control costs and establishing clearer accountability for execution and results.
Dr Aflah Said Al Hadhrami, the Director General of PDO, said the company's ability to efficiently and responsibly grow production is fundamental to maximizing value from the sultanate's hydrocarbon resources.
This agreement represents a new step forward toward achieving this ambition and cementing production growth as one of the key pillars in the sultanate of Oman's institutional transformation journey led by the company.
PDO is committed to enhancing in-country value, developing local capabilities, investing in Omani talent, and retaining as much value as possible within the Sultanate of Oman, it added.
Girish Saligram, Chief Executive Officer of Weatherford, said the awarding of this contract embodies the company's commitment to operational excellence, innovation, and creating sustainable value.
Through this project, the company will continue to contribute to achieving PDO's goals to maximise production efficiency and support the sustainable development of fields, alongside building local capabilities, nurturing Omani talent, and expanding opportunities across the local value chain, he added.
He explained that Weatherford will remain committed to execution efficiency and maximising the impact of in-country value, thereby contributing to supplying the energy sector in the Sultanate of Oman and supporting national development targets.
This agreement represents PDO's commitment to establishing long-term partnerships with industry partners, combining commercial efficiency with a commitment to the highest standards of health, safety, environment, and quality, it added.-TradeArabia News Service
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