Oman is undertaking a fundamental review of its energy policy and this is expected to impact the operations of state-owned Oman Oil Company (OOC). It could also affect the country’s foremost oil and gas producer, Petroleum Development Oman (PDO), although the parameters of the review have yet to be determined. The government is currently preparing its scope, terms of reference and time frame and it is expected to impact the whole energy sector, including oil, refining and petrochemical firms (See p2) and power, gas and LNG (See p12).
Oman is the only GCC country that does not have a state-owned integrated energy firm dominating its hydrocarbons industry. PDO (government 60%, Shell 34%, Total 4% and Portugal’s Partex 2%) is Oman’s foremost hydrocarbon producer. It accounts for nearly two thirds of the country’s crude and nearly all of its gas and condensate. But it is only a producer and explorer. The oil split between the government and other shareholders is 60/40, while gas is 100% government owned. PDO is government-led with a significant Shell participation. Shell also has a presence in Oman LNG and in retail. (CONTINUED - 885 WORDS)