EDO listed on MSE Third Market

BUSINESS REPORTER –
MUSCAT, FEB 7
Energy Development Oman Co SAOC (EDO), the newly established energy holding company, has been listed on the Third Market of the Muscat Stock Exchange, following an administrative decision by the Capital Market Authority (CMA).
The wholly Omani government-owned entity’s share capital of RO 500,000 has been listed on the Third Market, the Authority said.
EDO was instituted by Royal Decree on December 6, 2020 as an Omani joint stock company to invest in conventional as well as renewable and alternative energy resources within and outside the Sultanate.
Its most significant asset is the government’s 60 per cent shareholding in Petroleum Development Oman (PDO).
Consequently, EDO also now owns an interest in the prolific Block 6 licence currently held by PDO and which contributes the bulk of the country’s hydrocarbon production.
The company has also been tasked with overseeing the collection of oil and gas revenue, payment of all capex and opex associated with the annual production of hydrocarbons, and the overall development of the oil and gas sector.
EDO will also play a central role in the Sultanate’s energy transition as well as economic diversification.