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Challenger Limited
Offering Size: USD 42 Million
Country: Great Socialist People's Libyan Arab Jamahiriya
Sector: Oil Drilling
Year: 2006
In 2006, the MENA Small & Medium Enterprises Fund 1 acquired a 22.5% stake in Challenger Limited, an international provider of contract oil and gas land drilling and work-over services, operating primarily in Libya and also elsewhere in the Middle East.
Challenger’s results for 2008 represent historic highs, with revenues rising by over 60% and EBITDA growing more than 70%, due to the signing of a number of new contracts, and the increasing demand for drilling rigs in Libya as a result of the contractual obligations of Exploration and Production (E&P) companies under the Exploration and Production Sharing Agreements (EPSA).
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Offering Size: USD 42 Million
Country: Great Socialist People's Libyan Arab Jamahiriya
Sector: Oil Drilling
Year: 2006
In 2006, the MENA Small & Medium Enterprises Fund 1 acquired a 22.5% stake in Challenger Limited, an international provider of contract oil and gas land drilling and work-over services, operating primarily in Libya and also elsewhere in the Middle East.
Challenger’s results for 2008 represent historic highs, with revenues rising by over 60% and EBITDA growing more than 70%, due to the signing of a number of new contracts, and the increasing demand for drilling rigs in Libya as a result of the contractual obligations of Exploration and Production (E&P) companies under the Exploration and Production Sharing Agreements (EPSA).
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