Energy Oman restructuring to create three holding entities

Muscat, Nov 4
Energy Oman, formerly known as Energy Development Oman (EDO), is targeting completion of a major internal reorganisation by the end of 2026, aimed at strengthening corporate governance, enhancing accountability and streamlining the management of its oil, gas and industrial investments.
The proposed restructuring, outlined in the prospectus for the state-owned energy group's latest RO 50 million sukuk offering, envisages the consolidation of its diverse business interests under three intermediate holding companies, each dedicated to a distinct operating segment.
According to the prospectus, the reorganisation will group the company's oil operations, gas operations and industrial subsidiaries under separate corporate structures, providing greater clarity in the management and oversight of its expanding portfolio.
'The primary purpose of the proposed internal reorganisation is to enhance accountability and governance by grouping assets for each key business segment under three new intermediate holding companies,' the prospectus stated.
Under the proposed structure, EDO Oil Ventures LLC will oversee the group's oil interests through EDO Oil SPC, which will hold the government's participating interest in Petroleum Development Oman's (PDO) Block 6 oil concession. The structure also encompasses PDO LLC and its subsidiary PDO Services LLC.
EDO Gas Ventures LLC will consolidate the group's gas-related businesses, comprising EDO Gas SPC, EDO Makarem SPC and EDO Khulud SPC. EDO Gas is responsible for the non-associated gas concession, having assumed the relevant rights and obligations under arrangements concluded in 2023.
The third pillar, EDO Industries Ventures LLC, will bring together EDO InfraCo SPC and One Supply Oman SPC, reflecting the group's ambitions to expand into infrastructure ownership, supply chain management and related industrial services.
One Supply Oman, established in September 2024 and formerly known as eco SPC, commenced operations by monetising surplus and scrap equipment from Block 6. In October 2025, it entered into a joint venture agreement with Japan's Sumitomo Corporation to establish a strategic supply chain management business serving Oman's hydrocarbon industry.
Separately, the group structure includes Hydrogen Oman SPC (Hydrom), the national entity responsible for orchestrating Oman's green hydrogen strategy. Established in 2022, Hydrom oversees the allocation of land for hydrogen projects, competitive bidding rounds, common infrastructure coordination and the development of the wider green hydrogen ecosystem.
The prospectus also identifies Oman New Energies SPC as an entity intended to facilitate the group's internal reorganisation.
Energy Oman represents the government's interests in Block 6, holding a 60 per cent participating interest in the oil concession and full ownership of the non-associated gas concession.
The restructuring underscores Energy Oman's efforts to establish a more integrated corporate framework as it seeks to maximise the commercial value of its hydrocarbon assets while expanding into new energy, infrastructure and industrial opportunities.