Category: COMPANIES

COMPANIES
Galfar
Galfar wins RO23mn arbitration against haya water

Galfar Engineering and Contracting Company has won an arbitration award totaling over RO23mn against Haya Water regarding a dispute over Seeb sewage project.  Galfar said in a disclosure to Muscat Securities Market (MSM), “We would like to inform our esteemed shareholders and investors that an arbitration award was issued in the second of the four […]

COMPANIES
ahmed-al-musalmi
Al Musalmi resigns as NBO CEO

CEO of the National Bank of Oman (NBO), Ahmed bin Jaffar Al Musalmi has resigned from his post, the bank confirmed on Thursday. In a statement released online, the bank said that its board of directors had accepted Musalmi’s resignation and that chief investment officer and general manager, Sayyid Wasfi bin Jamshid Al Said had […]

COMPANIES
Omantel
Omantel posts RO107mn net profit

Oman Telecommunications Company (Omantel), the Sultanate’s biggest telecommunication firm, has posted a net profit of OMR106.80 million for 2017, down from OMR115.80 million registered for the previous year. Following the acquisition of a controlling stake in Kuwait’s Mobile Telecommunications Company (Zain Group), Omantel group results include Zain results for the period from November 15, 2017 […]

COMPANIES
Al Argan
Alargan Towell appoints Mohammed Al Abri as new CEO

The board of directors of Alargan Towell Investment Company, a leading real estate development company in the Sultanate, announced the appointment of Mohammed bin Mousa Al Abri as chief executive officer as of January 30, 2018. “We are pleased to welcome Mohammed Al Abri who brings a vast experience in the real estate market in […]

COMPANIES
Takatuf 1
Preparing tomorrow’s leaders

Takatuf’s Essentials Management Programme was aimed at developing leadership skills for future leaders  Takatuf, Oman’s leading provider of innovative human capital solutions, successfully completed its second Essentials Management Programme (EMP) on January 18. The programme was held in partnership with Franklin-Covey, and was attended by managers, team leads and superintendents from the State General Reserve […]

COMPANIES
BP Oman Khazzaan
Petrofac awarded $800mn contract for Khazzan gas project

Petrofac has been awarded a lump-sum contract worth approximately $800 million by BP for the Phase 2 central processing facility (CPF) at the Khazzan Phase 2 (Ghazeer) gas development in the Sultanate. This follows the $1.4 billion Phase 1 CPF Khazzan project, awarded to Petrofac in February 2014, which celebrated first gas on September 22, […]

COMPANIES
Galfar wins
Galfar wins $15mn contract from Petrofac

Galfar Engineering and Contracting Company has been awarded a subcontract for an engineering, procurement and construction package for the Salalah LPG project of Salalah SFZCO by Petrofac E&C Oman for around $15 million. The completion period of the works of the subcontract is 17 months. “This is an important contract to Galfar and further serves […]

COMPANIES
MCDC IPO
MCDC share sale roadshow evokes investors’ interest

Following the launch of the initial public offering (IPO) of Muscat City Desalination Company (MCDC) SAOG (under transformation), investors’ interest is gathering pace. The company, alongside its issue manager – Bank Muscat Investment Banking, held an IPO roadshow with key investors, as well as research analysts from brokerage houses. Investment opportunities in IPOs of the […]

COMPANIES
BP Oman
The creation of Khazzan: From sand to city

How BP transformed a remote Omani desert to a massive gas operation facility the size of Greater London Converting a land mass covered by an enormous semi-sandy desert plain, dunes and flat terrain to a massive gas field, the size of Greater London, is nothing short of a miracle. BP Oman did exactly this when […]

COMPANIES
CMA
National Finance plans RO22mn rights issue

National Finance Company has decided to convene an extraordinary general meeting on December 14 to seek approval from shareholders for raising its paid-up capital to OMR49.68 million from OMR27.93 million by way of a rights issue of 217.6 million shares. The rights share will be issued at a price of 127 baisas, which include a […]