The ownership of Dalma Energy LLC and its subsidiary was recently transferred to Al-Qahtani Investments LLC (AQI). Aabar, listed on the Abu Dhabi stock exchange, and Dalma’s previous holding company signed an SPA with GulfCap Group Limited in July 2007.
“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,” said Sheikh Tariq Al-Qahtani, Chairman of the Board of Al-Qahtani Investments LLC.
Shareholders include, Abdel Hadi Abdullah Al-Qahtani & Sons who hold 51.5% shares, followed by Al Nasser Investments LLC, UAE with 24.4%, GulfCap Energy LLC, UAE with 16.6%, and other prominent investors from Bahrain holding 7.5%.
Abdulla Nasser, director of Al-Qahtani Investments LLC commented, “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 further. We see tremendous synergies between Dalma and our existing business in the oil and gas sector.”
Dalma currently operates 22 land drilling rigs in Oman, Saudi Arabia, Qatar, India and Algeria, and its fleet comprises of seven light rigs of less than 1 000 horsepower (hp), 4 medium rigs of 1 500 hp, and 11 heavy rigs of 2 000 hp.
“We are happy to have initiated this transaction, and are grateful to all the shareholders of Al-Qahtani Investments who joined hands in acquiring Dalma Energy. Our vision is to transform Dalma, which is presently a regional drilling company, into an international integrated oil services company,” noted Suleiman Shahbal, CEO of GulfCap Group and a director of Al-Qahtani Investments LLC.
The principal shareholder Abdel Hadi Abdullah Al-Qahtani & Sons is a well-reputed company in the oil and gas sector, and is headquartered in Dammam, Saudi Arabia. Al Nasser Investments LLC is also a prominent group in the oil services industry from Abu Dhabi, UAE, and GulfCap Energy LLC holds GulfCap Group’s investments in the energy sector.
