PDO awards hoist service contracts to Abraj and Shaleem
Petroleum Development Oman has given five-year hoist contracts to two Omani firms, expecting 7% savings against current rates, Reuters reports.
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what happened
Petroleum Development Oman (PDO) has awarded five-year hoist service contracts to Abraj Energy Services and Shaleem Petroleum Company. PDO announced the decision on October 27, and Reuters reported the details. The deals cover 15 hoist units in total, with nine going to Abraj and six to Shaleem.
The company expects direct savings of 7% against existing contract rates over five years, plus a further 6% in avoided costs compared with market trends. The share of modern units in PDO's hoist fleet is set to rise from 40% to 53%. Six new hoist units will be assembled in Oman, which the company says will create opportunities for local small and medium-sized businesses.
why it matters
The news is operational in nature, focusing on lower well servicing costs rather than production volumes. For the oil market it is a minor signal, but it shows PDO looking for ways to make its operations cheaper as part of its transformation programme.
instruments
sources
- ZAWYA: Oman: PDO awards five-year hoist contracts — Reuters, 28 October 2026 at 07:28 UTC
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