Dalma Energy LLC (UAE, Saudi Arabia & Oman)

Following an extensive bidding process among several blue-chip international buyers, GulfCap acquired Dalma Energy in 2006–07 from the Abu Dhabi-based Aabar Petroleum, now Aabar Investments.

GulfCap entered into an agreement with Aabar for the acquisition of its Oman-headquartered, wholly owned oil and gas drilling services subsidiary for US$446 million through a competitive bidding process.

GulfCap also arranged financing of US$340 million from one of the largest European banks for this acquisition. Following the signing of the SPA with Aabar, GulfCap novated the original agreement in the name of Al-Qahtani Investments LLC. The acquisition was completed during the first week of January 2008.

Reference website: http://www.DalmaEnergy.com