Abraj Energy Services announces 2024 results, highlighting operational excellence, industry-leading safety performance, and continued commitment to local value creation and talent development.
Muscat, Oman – April/2025
Abraj Energy Services, Oman's leading oil and gas services provider, has announced its 2024 annual report and financial results. The company posted a 5.1% year-on-year (YOY) revenue increase of OMR 7.3 million. The company's strong performance reflects its continued focus on safety, operational excellence, and sustainable value delivery across Oman and regional markets.
Abraj's unwavering commitment to safety continued to set industry benchmarks in 2024. The company proudly completed three consecutive years of LTI-free operations across all business units, with six units achieving over 10 years LTI-free and thirteen units reaching a five-year 'Goal Zero' milestone. This exceptional safety performance record was recognized through awards and commendations from leading clients and regulators, including PDO and OPAL. On a global scale, Abraj secured top rankings among 79 Shell rigs, earning First place in HSE performance, reinforcing its leadership in health, safety, and environment excellence.
Eng. Saif Al Hamhami, CEO of Abraj Energy Services, stated:
“In 2024, Abraj reinforced its position as a trusted oil and gas services provider through consistent operational excellence and an industry-leading safety culture. Achieving over 99% productive drilling time, improving rig move performance by 13%, and maintaining a multi-year LTI-free record across all business units are clear indicators of the strength of our systems and the dedication of our people. These accomplishments reflect our deep-rooted values, our commitment to our clients and stakeholders, and our role in supporting Oman's energy and economic development."
In drilling operations, Abraj achieved 99.24% productive drilling time, completing 341 wells, despite operating a leaner rig fleet. Rig move efficiency improved by 13%, exceeding performance targets. Abraj rigs also ranked 4th among Shell's 20 global contractors, reflecting superior operational execution and consistent service delivery.
In well services, the company maintained 99.6% operational efficiency, reinforcing its position as a leading player in the domestic market. Abraj secured a 16% share of Oman's cementing market and 30% of the integrated fracturing services market while expanding its capabilities with advanced proppant systems and enhanced service integration to meet evolving client needs.
Abraj continued to lead in In-Country Value generation, delivering more than OMR 423.5mln in ICV since 2020. In 2024 alone, the company contributed OMR 61 million to local investment, including OMR 16 million directed to small and medium enterprises (SMEs)—a testament to its strong alignment with Oman's economic development goals.
Supporting the nation's vision for workforce localization, Abraj maintained a high Omanization rate of nearly 93%. The company also expanded its training and development programs, equipping Omani talents with the skills and experience needed to excel in a competitive energy landscape and drive future growth.