Latest news with #EnergyDevelopmentOman
Zawya
2 days ago
- Business
- Zawya
Oman advances diverse energy portfolio: EDO
MUSCAT - Oman is set to undergo a major transformation in its energy sector over the next decade, with plans for broad-based expansion across both hydrocarbons and renewable energy sources, according to a key executive of the Sultanate of Oman's pivotal energy industry. Mazin Rashid al Lamki, CEO of Energy Development Oman (EDO)—the wholly government-owned energy sector holding company—said the evolving strategy reflects global energy shifts while maintaining a strong commitment to domestic needs and export potential. In an interview featured in the latest Oman-focused edition of Oxford Business Group (OBG), Al Lamki noted that nationwide assessments of the country's energy resources, currently nearing completion, indicate a 'stronger-than-expected' potential in oil and gas. Together with assessments of Oman's solar and wind capacity, a picture is emerging of a balanced energy mix catering to both domestic demand and exports. 'Overall, we are moving toward a more diversified and integrated energy portfolio. Once it reaches commercial scale, you will see Oman expanding oil, gas, renewables, and green hydrogen. It is not a transition away from hydrocarbons, but a strategic broadening to meet domestic needs and seize export opportunities in an evolving global energy landscape,' Al Lamki stated. In line with this strategic direction, renewable resources are targeted to account for 30% of electricity production by 2030—a figure that could rise to 40–45%, according to current indicators. Hydrocarbon production is also expected to grow in response to sustained global demand, he noted. Al Lamki also emphasized the need for greater investment in the country's energy infrastructure to meet the ambitious renewable energy targets by 2030. 'Oman must expand its electricity infrastructure to meet the 2030 renewable energy target. Today's grid is designed for 11 GW of capacity, but by 2030 we expect that figure to rise to 35–40 GW. This requires investment in transmission and distribution infrastructure,' he said. One key area of focus, he added, is the development of common-use infrastructure to support both green hydrogen and renewable energy projects—a move that would help lower costs and maximize efficiency. 'Public-private partnerships (PPPs) will be key to this process. We are looking at PPP models to support grid expansion, particularly in the northern regions. Existing oil and gas transport infrastructure may be adapted to move hydrogen and desalinated water. Coordinated planning across electricity, water, and hydrogen infrastructure will be essential—and shared investment models will make that feasible,' he explained. When asked about potential sources of foreign direct investment (FDI) to support Oman's energy infrastructure, Al Lamki cited countries in Asia and Europe as particularly promising. 'These countries are seeking reliable, long-term supplies of both clean and conventional energy, and Oman stands out as an appealing partner due to its geopolitical stability, rich resource base, and clear commitment to energy diversification,' he said. Affiliated with the Ministry of Finance, EDO owns 60% of the Block 6 concession operated by Petroleum Development Oman (PDO), 100% of Block 6's non-associated gas concession, and 100% of Hydrogen Oman (Hydrom), the master planner of the Sultanate's green hydrogen industry. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
3 days ago
- Business
- Observer
Oman advances diverse energy portfolio: EDO
MUSCAT, JUNE 4 Oman is set to undergo a major transformation in its energy sector over the next decade, with plans for broad-based expansion across both hydrocarbons and renewable energy sources, according to a key executive of the Sultanate of Oman's pivotal energy industry. Mazin Rashid al Lamki, CEO of Energy Development Oman (EDO)—the wholly government-owned energy sector holding company—said the evolving strategy reflects global energy shifts while maintaining a strong commitment to domestic needs and export potential. In an interview featured in the latest Oman-focused edition of Oxford Business Group (OBG), Al Lamki noted that nationwide assessments of the country's energy resources, currently nearing completion, indicate a 'stronger-than-expected' potential in oil and gas. Together with assessments of Oman's solar and wind capacity, a picture is emerging of a balanced energy mix catering to both domestic demand and exports. 'Overall, we are moving toward a more diversified and integrated energy portfolio. Once it reaches commercial scale, you will see Oman expanding oil, gas, renewables, and green hydrogen. It is not a transition away from hydrocarbons, but a strategic broadening to meet domestic needs and seize export opportunities in an evolving global energy landscape,' Al Lamki stated. In line with this strategic direction, renewable resources are targeted to account for 30% of electricity production by 2030—a figure that could rise to 40–45%, according to current indicators. Hydrocarbon production is also expected to grow in response to sustained global demand, he noted. Al Lamki also emphasized the need for greater investment in the country's energy infrastructure to meet the ambitious renewable energy targets by 2030. 'Oman must expand its electricity infrastructure to meet the 2030 renewable energy target. Today's grid is designed for 11 GW of capacity, but by 2030 we expect that figure to rise to 35–40 GW. This requires investment in transmission and distribution infrastructure,' he said. One key area of focus, he added, is the development of common-use infrastructure to support both green hydrogen and renewable energy projects—a move that would help lower costs and maximize efficiency. 'Public-private partnerships (PPPs) will be key to this process. We are looking at PPP models to support grid expansion, particularly in the northern regions. Existing oil and gas transport infrastructure may be adapted to move hydrogen and desalinated water. Coordinated planning across electricity, water, and hydrogen infrastructure will be essential—and shared investment models will make that feasible,' he explained. When asked about potential sources of foreign direct investment (FDI) to support Oman's energy infrastructure, Al Lamki cited countries in Asia and Europe as particularly promising. 'These countries are seeking reliable, long-term supplies of both clean and conventional energy, and Oman stands out as an appealing partner due to its geopolitical stability, rich resource base, and clear commitment to energy diversification,' he said. Affiliated with the Ministry of Finance, EDO owns 60% of the Block 6 concession operated by Petroleum Development Oman (PDO), 100% of Block 6's non-associated gas concession, and 100% of Hydrogen Oman (Hydrom), the master planner of the Sultanate's green hydrogen industry.
Yahoo
12-05-2025
- Business
- Yahoo
Oman planning $8bn natural gas assets sale
Oman is reportedly exploring the sale of a stake in its natural gas assets, with an estimated value of around $8bn (OR3.08bn), reported Bloomberg, citing people familiar with the plan. The move is part of the sultanate's strategy to strengthen its financial position and fund future investments. State-owned company Energy Development Oman (EDO) is looking for partners to acquire a minority stake in the natural gas fields located within Block 6, which is said to hold the country's key oil assets. Block 6, was separated from Oman's largest oil producer, Petroleum Development Oman, in 2020 and was integrated into the newly established EDO. It is estimated to contain 10.7 trillion cubic feet (tcf) of proved and probable non-associated gas reserves and has a production capacity of more than two billion cubic feet per day (bcf/d). EDO holds a 60% share in the block's oil and full ownership of the gas concession. The potential sale would not only provide Oman with much-needed funds but also help distribute the substantial development and operational costs associated with these fields. If successful, this deal would join a series of asset divestitures in Oman, all aimed at reinforcing the public finances of the nation, which is considered among the most vulnerable in the Arab Gulf region. EDO, which did not respond to an email requesting comment, is currently in discussions regarding the sale, and plans may still be subject to change, according to the sources. The government had previously planned to issue bonds through EDO, but these plans have faced multiple delays due to unfavourable conditions in global financial markets. However, Oman's Ministry of Energy and Minerals has refuted claims that the sultanate is contemplating the sale, stating that the government has no immediate plans for such divestment, according to a report by Muscat Daily. Ministry of Energy and Minerals director-general of exploration and production of oil and gas Saleh al Anboori said: 'The ministry's priority is to enhance operational efficiency and attract global technical expertise and investment through strategic collaborations focused on knowledge transfer and maximising value creation within Oman – without compromising ownership or sovereign rights over strategic national resources.' Although oil currently generates four-times more revenue for Oman than gas, the focus is gradually shifting as investments are increasingly directed towards gas projects. This shift is in response to the rising global demand for the fuel. TotalEnergies and Oman's OQ SAOC are constructing a facility to supply liquefied natural gas (LNG) to ships. Furthermore, the government has approached international energy giants such as bp and Shell to invest in a new LNG train at Qalhat, which is expected to boost the country's export capacity by 25%. "Oman planning $8bn natural gas assets sale" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
09-05-2025
- Business
- Bloomberg
Oman Said to Consider Selling Stake in $8 Billion Gas Fields
Oman is looking to sell a stake in natural gas assets valued at about $8 billion, according to people familiar with the plan, as the sultanate seeks to raise cash to shore up its state finances and fund investments. State-owned firm Energy Development Oman SAOC is seeking partners for a minority stake in the fields contained in Block 6, which also holds the country's most prized oil assets, the people said, asking not to be named because the plans are private. Besides bringing in funds for Oman, a sale would also help spread the billions of dollars of costs needed to develop and operate the fields, which consultant Wood Mackenzie Ltd. values at about $8.2 billion.
