MB Holding

MB Holding Company LLC is an Omani conglomerate with interests in oil and gas exploration and production, oilfield services, engineering and mining.

MB Holding Company LLC
TypeLimited liability company
Industry
Founded1982 (1982)
FounderMohammed Al Barwani
Headquarters
Muttrah, Muscat
,
Oman
Key people
OwnerMohammed Al Barwani
Subsidiaries
Websitewww.mbholdingco.com

The company was founded in 1982 by Mohammed Al Barwani as an oilfield service provider to oil producers such as Petroleum Development Oman and Occidental Petroleum.[1] It subsequently expanded into exploration and production and gained concessions in Oman, Egypt and Mozambique.[1]

MB's engineering arm is involved in the aerospace and defense industry.[1] Its mining subsidiary, Mawarid Mining, was set up in 2000 and is the largest private mining company in Oman.[1][2] Mawarid is the first private mining company to engage in copper and gold exploration in Oman.[3]

Musstir, the property development arm, specialises in the development of hotels.[1][4] MB acquired Oceanco, a luxury yacht builder based in the Netherlands, in 2010.[5]

Its other investments include Nautilus Minerals (28 percent), an underwater mineral exploration company based in Canada, Al Madina Takaful (26 percent), an Omani takaful operator, and Watania (51 percent), a takaful operator based in Abu Dhabi.[1][6]

Al Barwani is chairman of the MB Group while his sons head the mining and oil and gas E&P arms.[1]

Operations

MB Holding's key business segments and operating subsidiaries are as follows:[7]

  • Oilfield services: MB Petroleum Services
  • Oil and gas exploration and production: Petrogas E&P
  • Mining: Mawarid Mining
  • Engineering: United Engineering Services

References
  1. Halligan, Neil (2015-05-23). "Growing on instinct: Mohammed Al Barwani". Arabian Business. Retrieved 2015-08-29.
  2. "MAWARID MINING RECEIVES AWARD FOR OMANISATION". Muscat Daily. 2012-10-07. Retrieved 2015-08-29.
  3. Kutty, Samuel (2015-05-31). "Mining royalty rises to 10 per cent in Oman". Oman Daily Observer. Archived from the original on 2015-06-01. Retrieved 2015-08-29.
  4. "Park Inn by Radisson Hotel & Residence opens in Duqm, Oman". Musstir. 2015-02-03. Retrieved 2015-08-29.
  5. "Oman's MB Holding set for massive expansion". Times of Oman. 2012-11-22. Retrieved 2015-08-29.
  6. Khan, Gulam Ali (2014-08-26). "Al Madina, MB Holding to buy 60.5% stake in UAE takaful firm". Muscat Daily. Retrieved 2015-08-29.
  7. "Our Business". MB Holding Company LLC. Retrieved 2015-08-29.
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