The Arab Energy Fund has expressed its intention to submit a non-binding offer to acquire up to 20% of Egypt-based offshore marine and oil support services provider Maridive and Oil Services.

Maridive and Oil Services recorded 29.09% year-on-year (YoY) higher consolidated net profits after tax valued at $23.242 million in the first quarter (Q1) of 2026

Maridive and Oil Services (MOIL) returned to profitability in the first quarter (Q1) of 2026, reporting standalone net profits after tax of $1.889 million, compared with net losses of $23.955 million in Q1 2025.

Maridive and Oil Services generated 171% year-on-year (YoY) higher consolidated net profits at $59.336 million in 2025

The standalone net losses of Maridive and Oil Services widened by 234% to $21.162 million in 2025 from $6.328 million a year earlier.

Maridive and Oil Services recorded 105.597% higher net profits attributable to the parent company at $34.534 million in the first nine months of 2025

Maridive & Oil Services Company secured a contract in the UAE, with an annual value of $8.95 million, according to a bourse disclosure issued on December 14th.

Maridive Offshore Projects, a subsidiary of Maridive & Oil Services, signed a long-term contract in Qatar to provide maintenance and production support services in the petroleum sector.

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi met with a delegation from Maridive Group to discuss the company’s plans to expand its operations and invest in petroleum production.

Maridive and Oil Services (MOIL) intends to establish a limited liability subsidiary in the UAE

Maridive and Oil Services (MOIL) recorded $22.317 million in standalone net loss in the first half (H1) of 2025, compared to profits of $1.564 million in H1 2024, according to the financial indicators.

Maridive and Oil Services (MOIL) reported a 42.53% year-on-year decrease in consolidated net profits attributable to the parent company in the first nine months of 2024.

Maridive and Oil Services (MOIL) recorded $1.564 million in standalone net profits in the first half (H1) of 2024, compared to losses of $328,765 in H1 2023.

Maridive & Oil Services has secured a one-year contract valued at $17.8 million to provide support for oil exploration and production in Egypt.

Maridive Offshore Projects, a subsidiary of Maridive & Oil Service S.A.E., has been awarded a 16-month contract worth $14.4 million, as per a disclosure.

Maridive and Oil Services (MOIL) reported a 141.5% year-on-year increase in consolidated net profits attributable to the parent company in the first quarter (Q1) of 2024.

Maridive and Oil Services (MOIL) reported a 152% year-on-year jump in consolidated net profits after tax in the first quarter (Q1) of 2024.

Maridive and Oil Services (MOIL) recorded standalone net profits after tax of $608,658 in the first quarter (Q1) of 2024, versus net losses of $480,912 in Q1 2023.

Maridive and Oil Services (MOIL) recorded consolidated net profits after tax of $47.696 million in 2023, compared to $106.342 million in net losses in 2022.

Maridive and Oil Services’ (MOIL) standalone net losses after tax dropped 63% year on year (YoY) in 2023 to $5.034 million, compared to $13.54 million.