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Tag: Maridive

UAE-based investor Najjad Zeenni acquires $37 mn stake in Maridive

Posted: July 15, 2019 at 3:12 pm   /   Oil & Gas

Maridive & Oil Services’ board of directors has approved an offer by UAE-based investor Najjad Zeenni to acquire a USD 37 million stake in the company, the company announced in a statement. Zeenni, who is chairman, CEO and a 25% shareholder in Maridive subsidiary Valentine, will acquire a 12.8% stake in the company’s share capital. […]

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Maridive & Oil Services secures new contract in Mexico worth $27 million

Posted: May 6, 2019 at 10:34 am   /   Oil & Gas

The contract will serve to diversify the Group’s revenue streams and bolster its growing backlog. Maridive & Oil Services Co., one of the largest private offshore marine and oil support services providers in the MENA region by number of vessels, announced today that the Group’s Marine Division has secured a new contract in Mexico for […]

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Maridive wins vessel contracts worth $14 million in KSA, Tunisia

Posted: January 31, 2018 at 4:14 pm   /   Oil & Gas

Maridive and Oil Services has landed two contracts, one each in Saudi Arabia and Tunisia, worth a combined USD 14 million, Al Mal reports. The company signed a contract with a Saudi client to rent one vessel for seven years beginning in February, and another contract with a Tunisian client for a three-year terms starting […]

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Maridive & Oil Services wins $20m contract to provide services at Zohr

Posted: November 16, 2017 at 8:33 am   /   Oil & Gas

Maridive & Oil Services signed a USD 20 million agreement with an unnamed Egyptian company to lease three maritime units to provide maritime and oil services at the Zohr gas field, Al Mal reports. Maridive & Oil Services (MOIL) announced in a statement sent to EGX, maritime support sector has won a new contract with one of […]

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Maridive turns profitable in FY2016

Posted: April 24, 2017 at 8:40 pm   /   Oil & Gas

Maridive and Oil Services on Sunday posted a consolidated net profit of $21.07 million for fiscal year 2016, against a consolidated net loss of $23.43 million for FY15. Standalone net profits increased in FY16 by 43.4% to $11.14 million, versus EGP 7.76 million for FY15, according to a bourse filing. Revenues, however, declined in FY16 […]

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Maridive signs $43m offshore construction contract in UAE

Posted: March 10, 2016 at 6:37 pm   /   Oil & Gas

The company obtained a contract at a time when many companies are cutting their petrol production, says navigation sector analyst. Maridive & Oil Services SAE announced that its offshore construction sector obtained a new contract of $43m in the UAE, according to a statement published Monday. According to the contract, Valentine Maritime, one of Maridive’s […]

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Maridive to conduct offshore exploration in the Mediterranean

Posted: December 30, 2015 at 2:33 pm   /   Oil & Gas

Egyptian company Maridive & Oil Services S.A.E. has developed a strategy that targets natural gas exploration in Egyptian territorial waters, including the Mediterranean, according to a company source, who requested anonymity. This comes after the government halted several agreements with a number of international companies following the Zohr discovery, the largest natural gas field found […]

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