& environment founded 1991 headquarters heliopolis cairo egypt key people hassan tatanaki chairman mohamed darwish operations hatem fakhr finance products drilling petroleum number of employees over 1000 website challenger.com challenger ltd is a provider of contract oil and gas land drilling and workover services . contents 1 history 2 operations 2.1 products and services 3 vc bank acquisition 3.1 challenger limited selected clients 4 notes 5 references 6 external links 7 see also history edit challenger is based in the middle east and north africa mena region and is currently led by chairman hassan tatanaki . 1 the company was founded in 1991 and operated first in africa later expanding into the middle east . operations edit challenger limited is a provider of contract oil and gas land well drilling and work over services . the company owns and operates 25 drilling rigs in libya providing drilling and work over services for oil gas and water wells with offices in egypt saudi arabia and the united arab emirates . workover refers to any kind of oil well intervention involving invasive techniques such as wireline coiled tubing or snubbing . more specifically though it will refer to the expensive process of pulling and replacing a completion oil well . it has an extensive client base including several national oil companies as well as international corporations such as agip eni total marathon oil veba and verenex energy . challenger works as a regular subcontractor to the state owned national oil corporation of libya . challenger is one of the oldest drilling companies in africa and particularly in libya . since inception the company has grown every year producing impressive financial results . challenger is a private company limited by shares registered in the general registry of the isle of man g.b. it operates as a commercial entity through a network of branches in liechtenstein the middle east and africa . 2 financial consultants and audit firms include kpmg and pricewaterhousecoopers . products and services edit a workover rig . challenger 14 oime sl 7 challenger 19 national 80 b trailerized challenger 23 iri cabot 900 truck mounted kenworth trucks 953 50 ton c500 35 ton and foremost delta 3 trucks & trailers mercedes nissan patrol toyota land cruiser toyota pickup and man oshkosh trucks loaders caterpillar & volvo excavators caterpillar d7 vc bank acquisition edit in 2006 venture capital bank vc bank a bahrain based investment bank along with its partner the u.s. private equity firm global emerging markets gem acquired a significant stake in challenger . the acquisition cost roughly 50 million and was co financed by vc bank and gem . this transaction demonstrated that the mena region contains several attractive yet obscured investment opportunities represented in privately held companies such as challenger . 3 the investment is beneficial to both parties allowing challenger to achieve its growth plan and helping vc bank to achieve its objectives of supporting companies in the mena region . challenger chairman hassan tatanaki said that amongst alternative financing routes available challenger s management decided to partner with vc bank and gem to fuel and expedite its capacity expansion plans and its geographical coverage . tatanaki added that in the oil sector with libya in particular oil production in the 1970s was more than 3 million bpd compared to today s levels of 1.6 million bpd . with proven oil reserves of 41.5 gbbl 6.60 109 m3 of mainly sweet light crude oil in january 2007 an aggressive plan has been introduced by the libyan government to enhance production capabilities to 3 million bpd by 2010 . since the lifting of sanctions exploration concessions have been granted to international exploration companies which hope to drill 50 exploration wells per year . vc bank ceo abdullatif mohammed janahi added our investment in challenger will help the company snatch the exceptional growth potential in libya and enter international markets . soaring oil prices have brought about a supply demand imbalance of oil rigs worldwide leading oil and gas companies to spend more on exploration and production . this has in turn increased demand for oil drilling contractors such as challenger . challenger limited selected clients edit client years of operation area of operation country services agoco 1991 current sarir field libya drilling workover lasmo 1993 94 wadi borjuj libya drilling workover waha 1994 el zahra libya drilling workover ipc dublin 1997 97 kilwa tanzania drilling omv 1997 field 103 libya drilling workover fina 1997 el hamada libya drilling workover marathon 1998 manzala field egypt drilling khalda repsol 1998 99 west desert egypt drilling total 1999 current el mabrouk libya drilling agiba agip 1999 west desert egypt drilling ipll 1999 current el naka field libya drilling soc 2000 current soc fields libya drilling veba 2000 different fields libya drilling workover perenco oil co. 2000 01 echirax concession gabon drilling zueitina 2001 current field 103 libya drilling work over notes 1 . usgs 2002 bbbl billion barrels of oil . notes edit gulf financiers seek to invest in libya africa intelligence silicon valley san jose business journal challenger profile vc bank acquires stake in challenger vc bank nov. 21 2006 references edit venture capital bank 2006 vc bank acquires stake in challenger energy information administration 2007 libya country analysis world bank 2006 libyan economic report social & economic development group p. mobbs 2002 mineral industry of libya thomas s. ahlbrandt 2001 sirte basin province sirte zelten total petroleum system u.s. geological survey tuareg capital news gulf financiers in libya tuareg capital challenger company profile silicon valley san jose business journal external links edit challenger limited website tuareg capital news gulf financiers in libya see also edit list of oilfield service companies retrieved from https en.wikipedia.org w index.php title challenger ltd & oldid 737767105 categories 1991 establishments in egyptcompanies established in 1991oil and gas companies of libyaoil and gas companies of egyptdrilling rig operators navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 4 september 2016 at 22 51 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered 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