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Company Profile:
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Aabar Petroleum is a UAE-based company with a focus on E&P and drilling services. The company was listed on the Abu Dhabi Securities Market in November 2005. Aabar's strategy is to grow in the upstream Oil & Gas sector and in the oil field services sector through the acquisition of existing companies with proven track records. Aabar completed the acquisition of Abu Dhabi-based Dalma Energy for US$100 million in July 2005. Dalma Energy owns and operates 18 land based drilling rigs in Saudi Arabia, Oman, Qatar and India, with a further four on order. As at close on 26 January 2006, Aabar's shares were trading at AED4.33/ share, with a market capitalisation of AED 3,897 million (approximately S$1,725 million).
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