Dalma Energy, Aabar's drilling subsidiary to participate in ADIPEC 2006

Dalma whose operations encompass the MENA (Middle East North Africa) and Sub-Continental region will use its participation at ADIPEC to showcase the company's successful track-record in drilling operations before an international audience of oil and gas industry executives.

According to the 2006 ReedHycalog Rig Census survey, the global utilization of land rigs such as those operated by Dalma Energy has gone up to 95% in 2006 as compared to 83% in 2005.

The survey notes that "record oil and gas prices have spurred rig owners to mobilize additional units. Not only has the market upswing encouraged contractors to reactivate or refurbish their inventory of older units, rig building programs have also been established and are now coming to fruition".

Dalma has a strong track-record in the drilling business, with drilling contracts for Saudi Aramco, PDO-Shell, Qatar Petroleum and ONGC (Oil and Natural Gas Corporation), among other leading oil and gas companies.

"Dalma has invested substantially in growing its rig fleet and is well placed to satisfy the growing demand for drilling operations in the region and beyond. ADIPEC is the premier industry event for the MENA region. Due to the quality of the expected participants and visitors for this trade show, we expect to develop business opportunities with the major players in the energy sector,"

said Khaled Ahmed Salem Al Ameri, Director, Dalma Energy.

In the third quarter of 2006, Dalma Energy added one rig to its fleet, bringing its number of operational rigs to 18. The new rig has been contracted to Saudi Aramco. Four new rigs are currently under construction and are expected to be completed by end of this year. Of the 18 rigs in Dalma Energy's portfolio, seven are being operated in Saudi Arabia, eight in Oman, two in India and the remaining rig is in Qatar.