Oil

Oman’s Abraj signs oil deal with Chevron, Kuwait Gulf Oil Company

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Oman’s Abraj Energy Services said on Saturday it had signed a five-year ‘strategic partnership deal’ with Kuwait Gulf Oil Company and Saudi Arabian Chevron to extract and drill for oil in Kuwait.

The deal will see Abraj build three drilling platforms in the Wafra oilfield in Kuwait, the company said in a statement.

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The deal comes “within the framework of strengthening (the company’s) position and expanding its operations in … the Middle East and North Africa,” the statement read.

Oman pumps around 1 million barrels of oil a day. While it’s not a member of the Organization of Petroleum Exporting Countries, it is part of the wider OPEC+ alliance. Its finance ministry said in December it estimated the country will boost oil production by more than 10 percent this year to 1.175 million barrels per day

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