Hema Energy eyes 2030-31 MSX listing

MUSCAT: Hema Energy plans to list part of its business on the Muscat Stock Exchange in 2030 or 2031 and is preparing a new corporate structure for the proposed offering, Group Managing Director Azzan al Asmy told the Observer.
“The plan today is that the company will list on the Omani stock market in 2030 or 2031,” Al Asmy said. “We are working on the new structure ourselves to prepare it for the share offering.”
Established in 2011, the Omani energy services and technology group provides specialised solutions across oil and gas, renewable energy, manufacturing and energy-transition technologies. It is also expanding its presence across the region.
The proposed offering will not cover the entire group, which currently comprises six companies. Al Asmy said the board was still discussing which businesses would be included in the first offering.
He spoke after Hema Energy signed an agreement to move its employment-linked training programme online.
Under the new system, students will apply through the company’s website instead of submitting applications manually or through personal contacts.
The agreement also covers student projects. Al Asmy said a recent exhibition demonstrated that many students had promising ideas but lacked the resources or commitment needed to implement them.
“Many students have good ideas but can’t implement them because they lack the money or the willingness to do so,” he said.
Hema Energy will consider adopting proposals that can be developed in the oil and gas and renewable-energy sectors, Al Asmy added.
The company has operated its fully funded training programme for more than six years and accepts about 50 to 60 trainees annually across its summer and winter sessions.
Trainees who demonstrate their capabilities during their first one or two months may be offered permanent employment.
Participants are placed across three parts of the group. Its oil and gas supply business accepts graduates specialising in chemical engineering, oil and gas and process-related disciplines.
The company’s agricultural operation, which uses desalinated produced water from oil operations to grow oil-bearing plants, accepts graduates in agriculture, soil science and chemistry for laboratory work.
Its manufacturing division recruits technicians from institutes and colleges.
“We now have employees who were once trainees and have risen to positions such as heads of department in our company,” Al Asmy said.