Dalma Energy secures $77.5mn loan

Funds will be used to fund rigs for Aramco project

A loan has been agreed.
A loan has been agreed.

A syndicated loan worth $77.5mn has been jointly signed by Bank Sohar and Qatar National Bank (QNB) for Dalma Energy International's oil drilling rig project, according to Times of Oman.

The project will oversee the construction of three drilling rig packages to be deployed by Dalma Energy with Saudi Aramco, while the supplier of the drilling rig is Shandong Kerui from China, the report added.

The total sum of $77.5mn has been raised by the syndicated finance package provided by Bank Sohar.

Bank Sohar is the facility agent, onshore account bank, onshore security agent as well as custom bond guarantee bank.

Dalma Energy is one of the largest operators of drilling rigs in Oman with business interests in Saudi Arabia and Algeria.

Within the Oman, Dalma Energy has grown to operating 19 land rigs under contract with Petroleum Development Oman, and is one of the largest drilling contractor in Oman.

Newsletter

Most Popular

Digital Edition

Oil & Gas Middle East - September 2020

Subscribe Now