The National Iranian Drilling Company (NIDC) is planning to participate in neighboring Iraq‘s drilling tenders.

Speaking to reported on the sidelines of an oil show in Kish Island, on Tuesday, Sepehr Sepehri, NIDC managing director, said the company’s approach is to secure itself a toehold in global markets, adding NIDC is planning to participate in international drilling tenders in Iraq.

“We have plans to join drilling projects in neighboring countries and we have started correspondences with Iraq in this regard,” the official said.

Sepehri said the two country’s access to Arvand Free Zone, favorable crude oil production capacity in Iraq’s Basra and the good terms the two neighbors are on are among the advantages of working in Iraq.

He further said that NIDC will take part in three drilling tenders that Italy’s ENI is planning to hold in Iraq.

The NIDC official added that Oman is another market the company is seeing to gain a foothold in.

“We have indicated readiness to offer services to Oman, too, and will consider the matter in more depth during a visit by an Omani delegation to Iran within the next few weeks.”

Besides drilling operations, NIDC enjoys massive potentialities in offering drilling services, the CEO added.

“After Iraq and Oman, we are targeting operations in Qatar,” Sepehri added.

(Source: Shana)

By John Lee.

Al Fajar Al Alamia, an Omani firm listed on the Muscat bourse, has said that port facilities in the northern part of Oman must be improved in order to handle the high volumes of rock products required in Iraq, Qatar and Bangladesh.

Company chairman Saleem bin Qassim bin Ahmed Al Zawawi said:

“We are hopeful that the current downturn in the UAE market for rock products would soon be reversed with supplies to Iraq, Bangladesh, etc.”

(Source: Times Of Oman)

By John Lee.

Al Fajar Al Alamia, an Omani firm listed on the Muscat bourse, has said that port facilities in the northern part of Oman must be improved in order to handle the high volumes of rock products required in Iraq, Qatar and Bangladesh.

Company chairman Saleem bin Qassim bin Ahmed Al Zawawi said:

“We are hopeful that the current downturn in the UAE market for rock products would soon be reversed with supplies to Iraq, Bangladesh, etc.”

(Source: Times Of Oman)

By John Lee.

Iraq is considering changing its price benchmark for Basra crude oil sales to Asia.

From January, the State Oil Marketing Organization (SOMO) proposes to price relative to Dubai Mercantile Exchange (DME) Oman futures, rather than the average of Platts’ Oman-Dubai quotes.

According to a report from Reuters, this would mark a significant change away from fellow OPEC members Saudi Arabia, Kuwait and Iran, which have been using S&P Global Platts as their benchmark for decades.

SOMO has asked customers to submit their opinions on the plan by the end of August.

(Source: Reuters)

Oman Telecommunications (Omantel) has announced that it will purchase 425.7 million of Zain‘s treasury shares in a cash transaction at an offer price of KWD 0.60 per share – subject to regulatory approval.

Once complete, Omantel will own a minority stake in Zain Group of approximately 9.84% in outstanding common shares.

The total consideration of the transaction is valued at USD 846.1 million (OMR 325.6 million).

Martial Caratti (pictured), Chief Financial Officer, Omantel, said:

“Acquiring a minority stake in Zain is a deliberate investment for Omantel as we position ourselves as a leading digital service provider.

“This is in line with our Corporate Strategy 3.0, launched in 2015. We have always emphasised that growth will come from continued diversification, and this acquisition positions Omantel for the future.”

(Source: Omantel)

By John Lee.

Oman Air has announce that it will be commencing its four times weekly service from Muscat to Najaf from November.

Paul Gregorowitsch, Chief Executive Officer at Oman Air, said:

Following a temporary delay of our service to Najaf as the Operational teams were assessing and scheduling all fleet types for safe deployment on the route, Oman Air is delighted to start this service as our first destination in Iraq.

“The holy city of Najaf offers excellent potential for business travellers, those visiting friends and family, and for pilgrims. We anticipate a high demand.

(Source: Oman Air)

By John Lee.

Oman Air has announced that the start of its planned service between Muscat and Najaf is delayed from 15th September to 1st October.

The airline said in a statement:

“The decision was taken in line with Oman Air’s over-riding priority of ensuring the safety and well-being of all its customers and staff.”

In August, Oman Air announced Najaf as its first destination in Iraq, with four flights per week.

(Source: Oman Air)