What MB Petroleum Services does

MB Petroleum Services (MBPS) is an Oman-headquartered multinational oilfield services company that delivers integrated drilling, workover, production, drilling fluids, and training services to national oil companies such as Petroleum Development Oman (PDO), Saudi Aramco, QatarEnergy, and Kuwait Oil Company, as well as international oil companies including Shell, BP, Occidental, ONGC, and PETRONAS. Established in 1982 as MB Trading and repositioned into oilfield services in 1986, the company operates across Oman, Kuwait, Saudi Arabia, and Bahrain, with additional operational presence in Qatar, India, Mozambique, Germany, and Hungary. Following the May 2026 completion of a $204 million transaction, ADNOC Drilling holds an 80% stake and MB Holding Company retains 20%.

The service portfolio spans four core divisions. Drilling and Workover Solutions operates 22 drilling and workover rigs and provides turnkey wells and operational support. Production Services covers well testing, coiled tubing, nitrogen, pumping, completion, wireline, snubbing, and hydraulic workover, with the latter two capabilities delivered through subsidiary BPC. Drilling Fluids Services, in operation since 1994, supplies water- and oil-based mud engineering, solids control, and brine filtration, including high-H2S and high-temperature formulations. Training Services is delivered through the in-house MB Training Institute (MBti), which is ISO 29990 certified. Technical infrastructure includes Electronic Data Acquisition Systems (EDAS) for wireline logging, Koller (a German industrial equipment manufacturer founded in 1912) for equipment, and Gulf Drilling LLC with a track record of more than 50,000 hoist well entries across 5,000+ wells drilled. Workforce is 2,000+ employees with 80%+ Omanization to meet local content requirements.

MBPS generates revenue primarily through long-term professional services contracts (typically 3-5 years, extending to 2033) with NOCs, supplemented by IOC contracts. FY 2025 revenue was approximately $0.2 billion at an EBITDA margin of around 30%, implying roughly $60M of EBITDA, and Q1 2026 results exceeded FCF targets by over 20% and net income targets by over 40%. Go-to-market is relationship-driven and pre-qualification-gated, with enterprise buyers acquiring integrated rig and well services across multiple geographies. Ancillary revenue streams include equipment manufacturing through Koller, E-Line operations in Germany and Hungary via MB Well Services and MB Drilling Co. Ltd, and training fees from MBti.

Name

MB Petroleum Services

Legal name

MB Petroleum Services LLC

Website

https://mbpetroleum.com

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

MB Petroleum Services is an Oman-headquartered multinational oilfield services company that delivers integrated drilling, workover, production, drilling fluids, and training services to national and international oil companies across the GCC and select international markets.

Ownership category

akta.pro rank

Product category

Oilfield Services

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132)

SIC

Drilling Oil & Gas Wells (1381), Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Drilling & Workover Rigs (Land & Offshore) (EUALABAA)

akta.pro secondary industry

Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL)

Keywords

• Drilling services
• Oilfield services
• Workover services
• Drilling fluids
• Production services

Headquarters

HQ city

Muscat

HQ country

Oman

HQ region

Middle East

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Supply Chain, Technology or R&D

Revenue model

1. Drilling and Workover Services: Revenue from providing drilling and workover rigs to oil and gas companies. Services include turnkey wells, operational support, logistics, and integrated customized solutions. Operates 22 drilling and workover rigs with long-term contracts extending to 2033.
2. Drilling Fluids Services: Provides drilling fluids chemicals and engineering solutions, mud engineering, and laboratory services across Middle East operations. Includes solids control equipment, waste management, and brine filtration solutions.
3. Production Services: Well testing, coiled tubing, nitrogen, pumping, completion, wireline, snubbing, and hydraulic workover services. Supports full well lifecycle from exploration to production.
4. Training Services: MB Training Institute (MBti) provides technical petroleum and gas, well services, drilling, and HSE training to MB Group employees and external clients.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

MB Petroleum Services provides drilling and integrated well services to oil and gas operators, including turnkey drilling and workover rig operations, production services (well testing, coiled tubing, nitrogen, wireline, snubbing, hydraulic workover), drilling fluids and chemicals engineering, and technical training through its MB Training Institute (MBti). The company operates 22 drilling and workover rigs across Oman, Kuwait, Saudi Arabia, and Bahrain, delivered primarily through long-term contracts with national oil companies and international oil companies.

Product overview

MB Petroleum Services operates as a multi-service oilfield services provider offering an integrated portfolio of drilling, workover, production, and training services across the Middle East. The company operates through its core service divisions (Drilling and Workover Solutions, Production Services, Drilling Fluids Services, Training Services) supported by wholly owned subsidiaries including Gulf Drilling LLC (drilling operations in Oman), MB Training Institute/MBti (training), Koller (German equipment manufacturing), MB Well Services (German workover), and Balance Point Control/BPC (snubbing services). MB Petroleum Services delivers services on a standalone basis or as an integrated package supporting operations across the full well lifecycle.

Differentiator

Problem solved

Functional benefit

Products and services

• Drilling and Workover Solutions Core drilling and workover services including turnkey wells, technical solutions to complex drilling problems, operational support, logistics, and integrated customized services for oil, gas, and geothermal wells. Operates 22 drilling and workover rigs across Oman, Kuwait, Saudi Arabia, and Bahrain.
• Production Services Comprehensive production well services including well testing (onshore/offshore, HPHT), coiled tubing, nitrogen services, pumping services, completion services, wireline services with electronic data acquisition systems (EDAS), snubbing, and hydraulic workover operations supporting full well lifecycle from exploration to production.
• Drilling Fluids Services Drilling fluids and chemical solutions offering cost-effective mud engineering for shale inhibition, abnormal pressure and temperature using both water and oil-based mud, with laboratory services and chemical supplies including Enhanced Oil Recovery products. Includes specialized solutions for H2S and high-temperature drilling environments.
• Training Services (MB Training Institute / MBti) In-house training institute offering programs for drilling, workover, drilling fluids, well testing, coiled tubing, slickline, and HSE courses, with IWCF Well Control Level 3 & 4 certification. First training provider in Oman to achieve ISO 29990 certification.
• Gulf Drilling LLC Wholly owned subsidiary providing drilling and workover services across Oman and the Middle East with 18 workover rigs, accumulated over 50,000 hoist well entries, leveraging over 35 years of experience. Acquired API Q2 accreditation in 2022.
• Koller Equipment Manufacturing German equipment manufacturer founded in 1912, producing high-quality engineering equipment for oil and gas production, geothermal and water drilling industries, underground cavern storage facilities, and road construction.
• MB Well Services Leading workover service provider in Germany with 24 workover rigs (hook load range 32-200 tons) offering drilling, heavy workover, light workover, wireline, rig services, and geothermal services.
• Balance Point Control (BPC) Netherlands/Germany-based E-Line and Snubbing/HWO services company, premier provider of workover and snubbing services with proven track record of over 700 wells restored.
• MB Drilling Co. Ltd Hungarian subsidiary providing drilling, workover, P&A operations, tubular handling, coiled tubing, nitrogen units, and fishing services, with workshops for rig refurbishment.

Quantifiable outcome

• 50,000+ hoist well entries completed
• +4 more outcomes

Named customers15 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• ADNOC DrillingcoreStrategic or Co-development Partner · 4 May 2026ADNOC Drilling acquired 80% stake in MB Petroleum Services forming a joint venture with MB Holding Company. The JV adds 22 drilling and workover rigs, expands operations across Oman, Kuwait, Saudi Arabia, and Bahrain. ADNOC Drilling holds 80% while MB Holding retains 20%. The transaction valued at $204 million strengthens regional scale and execution capability.
• MB Holding CompanycoreStrategic or Co-development Partner · 5 November 2025MB Holding Company retains 20% stake in the MBPS joint venture with ADNOC Drilling. The partnership combines regional operational expertise with ADNOC Drilling's scale and technology-led approach.
• Gulf Drilling LLCcoreOthersWholly owned subsidiary of MB Petroleum Services addressing drilling and workover service needs across Oman and Middle East with 35+ years of experience.
• MB Training Institute (MBti)coreOthersFull-fledged independent SME training entity established to strengthen human resources development at MB Group. Provides technical petroleum and gas, well service, drilling and HSE training.
• KollercoreOthersLeading European manufacturer of reliable industrial equipment - Made in Germany. Founded in 1912, Koller provides high-quality engineering equipment for oil and gas production, geothermal and water drilling industries.
• MB Well ServicescoreOthersLeading Workover Service provider in Germany with 24 workover rigs (hook load range 32-200 tons). Services include drilling, heavy workover, light workover, wireline services, rig services, geothermal services.
• Balance Point Control (BPC)coreOthersPremier provider of Workover and Snubbing services with experienced personnel and proven track-record of over 700 wells restored. Acquired in 2023 from Netherlands/Germany.
• Sultan Qaboos UniversityminorStrategic or Co-development PartnerCollaboration for TATWEER Omani Graduate Recruitment Program to develop national workforce capabilities.
• Caledonian CollegeminorStrategic or Co-development PartnerCollaboration for TATWEER Omani Graduate Recruitment Program to support Omanization and develop local talent.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Halliburton: Halliburton is a global oilfield services major with extensive Middle East operations and a strong drilling fluids and well services portfolio. It is both a competitor in drilling fluids and a partner (per MBPS customer list) for production services in the Gulf.
• Schlumberger (SLB): SLB is the largest global oilfield services company and operates across drilling, production, and digital services in the Middle East. While its scale and technology far exceed MBPS, it competes for high-end drilling fluids, well testing, and integrated project work with the same NOC clients.
• Weatherford International: Weatherford is a global oilfield services provider offering drilling, evaluation, and production services. It serves the same Middle East NOC customers and overlaps with MBPS in wireline, well testing, and workover services.

Direct peers

• ADNOC Drilling: ADNOC Drilling (ADX: ADNOCDRILL) is the Abu Dhabi-based national drilling company and now 80% owner of MBPS. It operates the largest drilling fleet in the Middle East and offers directly comparable land drilling, workover, and integrated well services across the Gulf.
• KCA Deutag: KCA Deutag is a global onshore and offshore drilling contractor headquartered in Aberdeen, with significant Middle East operations. It competes directly with MBPS for land drilling and workover contracts with regional NOCs and IOCs.
• Gulf Drilling Company (Kuwait): Kuwait-based Gulf Drilling Company operates a fleet of onshore drilling rigs serving KOC, directly overlapping with MBPS's Kuwait operations and competing for the same workover and drilling contracts.
• ADES Group Holding Company: ADES is a Cairo-based offshore and onshore drilling contractor focused on the MENA region. It offers land rig and workover services comparable to MBPS, with a strong Gulf and North Africa footprint.

Emerging players

• China Oilfield Services Limited (COSL): COSL is one of the largest integrated oilfield services providers in Asia and increasingly competes for Middle East contracts. Its drilling, well services, and geophysical offerings are broadly comparable to MBPS's portfolio.
• Shelf Drilling: Shelf Drilling is a Dubai-based shallow-water offshore drilling contractor listed on OSE. While primarily offshore jackup-focused, it competes with regional drilling contractors and addresses the same Middle East NOC client base as MBPS.
• Aramco Drilling (Valaris): Aramco Drilling (formerly Valaris plus Saudi Aramco's drilling arm) is the Saudi national drilling vehicle and a direct competitor for Saudi Aramco contracts, the same end customer as MBPS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mb-petroleum-services/?originalSubdomain=is
• Instagraminstagram.com/mbps_oman
• Xx.com/mb_petroleum

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MB Petroleum Services