Energy Development Oman (EDO), the state firm which owns the government’s 60% share in PDO, listed a three-year $130mn (RO 50mn) sukuk issuance on the Muscat Stock Exchange on 7 October.
According to a supplementary prospectus submitted by the firm, the funds will go towards purchasing pipelines and wellheads at the gas clusters Saih Nihayda, Barik, Saih Rawl, and the major oil and gas development at Yibal. PDO is the leading oil and gas producer in Oman, and during the first half of the year it reached a key target by boosting oil output at Block 6 to more than 700,000 b/d (MEES, 10 October). (CONTINUED - 102 WORDS)