The Third International Digital Oilfield Conference held Under the Patronage of H.E. Dr. Mohammed Saif Al Rumhi, Minister of Oil & Gas and hosted by PDO has a pre- Conference Workshop on How to Understand & Implement ICT (Information and Communications Technology) practises to ensure DOF (Digital Oilfield) Optimisation.

There will also be an Exhibition alongside the Digital Oilfield Conference which provides E&P personnel, vendors, consultants and all participants the opportunity to maximise their business interests.

The International Advisory Committee have planned the Conference program that focuses on:

• Why Do DOF
• Instrumentation & Automation
• Data Management & Workflow Automation
• Communications & Collaboration
• Smart Technology
• Change Management
• Panel Session – The Future Of DOF in O&G

Muscat - The much awaited rights issue of Renaissance Services SAOG Mandatory Convertible Bonds (MCBs) opened yesterday for subscription. The Company is offering 423,141,678 mandatory convertible bonds worth OMR 43,160,451 at an issue price of OMR 0.102 each on rights basis.

The proposed capital raise will strengthen the company’s balance sheet and will also provide the required growth capital for investments in its core businesses.The company’s Marine and Contract services businesses have grown significantly over the last couple of years, and offer tremendous growth potential in the future. The proceeds from the rights issue will provide the required capital to fund those growth opportunities.

The issue is open for subscription till 24 July 2012 and the MCBs are expected to be listed on the Muscat Securities Market by 8 August 2012.The highlight of the issue is its attractive returns of 16.9% (IRR) commensurate with risk and protection from market fluctuations.

BankMuscat Investment Banking Division is the issue manager and subscription bank while Trowers&Hamlins is the legal advisor to the rights issue.

• Shareholders invited to submit their rights issue application forms at BankMuscat branches
• Issue open until 24 July 2012

Renaissance Services SAOG, the leading multi-national Omani oil & gas services  company today announced that its Rights Issue of 423,141,678 Mandatory Convertible Bonds (MCBs) will open for subscription on 10th July 2012.

The Issue Price has been fixed at OMR 0.102 for each MCB, including face value of OMR 0.100 and Baizas 2 as Issue Expenses. The subscription period is from 10 July 2012 to 24 July 2012 and the MCBs are expected to be listed on the Muscat Securities Market by 8 August 2012.

The MCB is a quasi equity instrument similar to previous convertible bond issuances in the market that offers investors an internal rate of return of 16.9%. The return is structured in the form of a coupon of 3.75% per annum and 13.15% per annum as conversion premium. This capital raise will strengthen the balance sheet of the company and will also provide the required growth capital to meet the overall investments needs of the company. Renaissance has consistently focused on delivering shareholder value and the rights issue is an important milestone in the life of the company. The Shareholders of Renaissance have approved the bond issuance in the EGM on 18th June 2012

The Capital Market Authority of Oman approved the issue on 26 June 2012. BankMuscat Investment Banking Division is the issue manager and subscription bank while Trowers & Hamlins is the legal advisor to the rights issue.

Commenting on the rights issue launch, Mr. Samir J. Fancy, Chairman of the Board said: “This initiative strengthens our balance sheet and provides a solid platform for growth. It demonstrates the belief and confidence we have in the future of our company."

On this occasion, AbdulRazak Ali Issa, Chief Executive, BankMuscat said, “We are very pleased to be appointed as the issue manager and subscription bank for Renaissance Services SAOG’s rights issue and believe that this is an important transaction for the company. Our extensive branch network across the Sultanate is ready to receive applications from investors and we look forward to making the offering a success. We would like to thank the Capital Market Authority for their support and guidance for this transaction.”

The original application forms will soon be dispatched to addresses provided by shareholders to the Muscat Clearing and Depository Company. Shareholders should ensure that the Depository has their right addresses. In any case after 17 July, shareholders can also visit their local BankMuscat branch if they have not received their application forms. The prospectus, which shareholders are recommended to review in detail, is also available for download on the Renaissance Services website www.renaissance-oman.com - or on the website of Capital Markets Authority - www.cma.gov.om