It's actually two words: Abou Saed (or Saad).It means "Saed's father" and it was common way of referring to parents in the Arab world.Usually, the parents used the first-born as a reference, becoming "Abou + surname of first-born" for the father and "Umm + surname of the first-born" for the mother.This could then, sometimes, become the family name in future generations.
Very practical in small villages but it not too helpful for people doing genealogy!!
You are probably familiar with the structure of Arab names: Surname + patronymic + (possible family name or grandfather's name).
Following that logic, I assume your g-grandfather's name was Nicholas (Nq'ula in Arabic), his own father was named Elias.And Elia's father may have been called "Abou Saed" due to a first-born named Saed (who would have been Elias's brother.Sort of confusing...
Your best bet is to identify the village they came from and look there.By their names, I'm also guessing they were christians.There may be a church there with records, if you are lucky.