August 22, 2008

Al Qahtani acquires Dalma Energy

It is reported that the ownership of drilling rig company Dalma Energy LLC and its subsidiary has been transferred to Al Qahtani Investments LLC.

Dalma operates 22 land drilling rigs in Oman, Saudi Arabia, Qatar, India and Algeria. Its fleet comprises of 7 light rigs, 4 medium rigs of 1,500 hp, and 11 heavy rigs of 2,000 hp. It offers a variety of services from shallow depth drilling and work over operations to drilling oil wells and deep gas wells.

Mr Sheikh Tariq Al Qahtani chairman of the board of Al Qahtani Investments LLC said that "We see this acquisition as a strategic long term investment for Al Qahtani Group, being in line with our interests in both domestic and international markets. It is our intention to develop Dalma Energy into one of the leading drilling and services companies in the region."

Meanwhile, Mr Abdulla Nasser director of Al Qahtani Investments LLC said that "Al Nasser Group is keen to diversify its portfolio in the oil field services. The acquisition of Dalma will help to expand our oil field services still further."