Oman's Shaleem Petroleum Company has signed an agreement to acquire Weatherford International - Oman.
This included the relocation of all business and equipment of the company and its staff of more than 300 Omani employees, said a Oman News Agency report.
The signing of the agreement was held under the patronage of Dr Mohammed bin Hamad Al-Rumhi, Minister of Oil and Gas, in the presence of a number of members of the State Council, members of Majlis A'Shura and some of officials and executives in the public and private sectors.
The agreement was signed by Sheikh Abdulaziz bin Salim Al Naqsh al-Mahri, board chairman of Shaleem Petroleum Company, and Peter Tan, representative of Weatherford International - Oman.
Shaleem Petroleum Company is one of the local companies working in the field of maintenance and rehabilitation of oil wells, and its rate of Omanisation currently stands at 76%.