The next twelve-month dividend yield is 5% with reference to IPO share price of Dh2.48 per share
Sharjah-based Ocean Oilfield, an oil and gas drilling company, has opened its new integrated shipyard in Abu Dhabi’s Musaffah.
Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence inaugurated the facility. “I hope this new facility of Ocean Oilfield in Musaffah will contribute to the economy of the country,” he said.
Ocean Oilfield CEO Sameer Mohamed said that the new venture marks a milestone for the company’s expansion plans to serve customers in the upstream, midstream and downstream oil and gas industry.
“We have existing facilities in the Hamriyah Free Zone. This new facility will help us to expand our services to reach clients Adnoc, NPCC, and others in and outside Abu Dhabi,” Mohamed said.
Ocean Oilfield offers integrated solutions in oil and gas drilling, services, supplies, engineering and marine to clients globally through its presence in the Gulf region, Turkey, India, Myanmar, Malaysia, Brunei, Thailand, the UK and the US.
“Ocean Oilfield’s long-term aim is to continue to provide support to customers by maintaining a cost effective and competitive edge by expanding our service offering to increase profitability for our customers while maintaining the safety and quality expected in the oil and gas field,” Mohamed added.
ashwani@khaleejtimes.com
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