Muscat – ABRAJ Energy Services, Oman’s national champion for integrated energy services, participated in the 19th Middle East Investor Relations Association (MEIRA) Annual Conference & Awards 2026, held on 1–2 October in Dubai, under OQ Group’s Lead Sponsorship.

Hubert Lafeuille, Chief Financial Officer of ABRAJ, joined the IR Leadership Roundtable on 2 October as part of the MEIRA Connect “IRO of the Future” program. The session examined the evolving role of Investor Relations, the impact of agentic AI on capital markets engagement, and the discipline required to build credibility and retain C-suite trust, alongside senior IR leaders from Presight, AD Ports Group, and SAL Saudi Logistics Services.

The conference convened senior leaders, regulators, institutional investors, fund managers, and Investor Relations professionals from across the region, giving ABRAJ its most concentrated opportunity of the year to engage directly with the investment community as Oman’s capital market advances toward emerging-market index inclusion.

Regional expansion and contracted visibility

ABRAJ entered the second half of 2026 with upgraded full-year revenue guidance of OMR 150–160 million, raised from OMR 145–155 million in the first quarter, and with third-quarter revenue expected to grow 5–10% on the second quarter.

The upgrade follows continued deployment under the Company’s eight-rig newbuild program, of which seven rigs are contracted to Petroleum Development Oman (PDO) — including six for the Wave III campaign — and one to the Wafra Oilfield Joint Operations (WJO) between the State of Kuwait and the Kingdom of Saudi Arabia. ABRAJ’s third rig at Wafra commenced operations during the second quarter, marking a material expansion of the Company’s revenue base beyond Oman.

Contracted visibility remains the foundation of ABRAJ’s investment case. As at 30 June 2026, the average remaining contract tenure across the fleet stood at 5.7 years per rig, with a book-to-bill ratio of 6.4 times, supporting clear revenue visibility well beyond the current expansion cycle.

Performance context

ABRAJ’s first-half 2026 results, released on 28 July 2026, reported revenue of OMR 75.3 million, up 3% year-on-year, with profit after tax stable at OMR 9.3 million. Rig utilization rose to 91% by the end of the second quarter, the Company’s highest level in twelve months — and contracted backlog reached an all-time high of OMR 953 million as at 30 June 2026, a 6% increase from the end of the first quarter.

The half also reflected the Company’s investment phase, with capital expenditure of OMR 29.3 million directed to the fleet expansion program. As previously disclosed, an EBITDA margin of 32.3% and a leverage ratio of 2.47 times net debt to trailing twelve-month EBITDA reflect that temporary investment cycle and are expected to improve as the newbuild rigs are deployed and begin contributing to revenue.

“ABRAJ’s strategy is to convert Oman’s long-term energy investment into durable shareholder value, deepening our position with national operators, extending our footprint across the Gulf, and funding growth from a contracted backlog rather than from optimism. That demands discipline on both sides of the balance sheet: operational execution, and a capital structure that remains resilient through a heavy investment cycle. Engagement with the investment community is where that discipline is tested, and this year MEIRA reflected a market asking sharper questions about how companies demonstrate credibility as international capital access widens.”

Hubert Lafeuille, Chief Financial Officer, ABRAJ Energy Services said, “Through its participation at MEIRA 2026, ABRAJ reinforces its commitment to consistent disclosure, strong governance and transparent communication with capital markets, and to deepening engagement with regional and international investors as the Company enters its next phase of growth.”