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Petroleum Development Oman

Raoul Restucci

Managing Director

PETROLEUM DEVELOPMENT OMAN

Driving efficiency is simply good business and the downturn has enabled us to challenge the status quo.
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Petroleum Development Oman in figures

PDO’s 2019 oil production: 616,380 bopd

Its total stock of wells:More than 10,000

Petroleum Development Oman

A dynamic market leader

Petroleum Development Oman (PDO) is the country’s largest producer, accounting for most of its crude oil production and natural gas supply. The company is a joint venture between the Omani government, which holds 60%, while Shell holds 34%, Total 4% and Partex 2%. Despite having the government as the major shareholder, PDO resists the label of NOC, preferring to see itself as a joint venture working for the government and the nation.

  • Production network: PDO has more than 10,000 wells and approximately 60 facilities interconnecting more than 180 fields across the country, in addition to its terminal and corporate headquarters at Mina Al Fahal.
  • EOR: PDO is a pioneer in EOR application and invests heavily in new technologies to make advances in thermal, chemical and miscible recovery methods. The company has notably partnered with US firm GlassPoint to build the USD 600-million, 1-GW Miraah solar project, which uses solar energy to produce steam for PDO’s thermal EOR at the Amal oilfield.
  • LCCs: PDO launched the Local Community Contractors Scheme in 1998, introducing formal methods for companies to meet requirements to be awarded its oilfield services contracts. More than 700 companies owned by either tribal communities or individuals are registered as LCCs.
  • Energy Development Oman: In December 2020, PDO launched a diversified holding, Energy Development Oman, in which PDO is incorporated. EDO will continue with the company’s traditional hydrocarbons activities through PDO, while adding solar and alternative energy development, energy management, low-carbon technologies, oil and gas consultancy services, and water management to its portfolio.

The company’s giant Block 6 covers the majority of the country’s interior, and from this block comes almost all of Oman’s produced natural gas and condensate and more than 70% of its oil, from more than 100 fields. The concession area includes tight and unconventional gas and heavy oil, areas in which PDO has developed considerable expertise.

PDO is required to renew its concession agreement for Block 6 every 40 years. The current agreement runs out in 2044. The company must also relinquish areas of Block 6 to international companies every five years, with the most recent acreage being offered as part of the 2019 bid round.

Petroleum Development Oman features

Oman’s PDO awards $4 billion in service contracts
NEWS
Oman - March 29, 2021

Petroleum Development Oman, the Shell-Oman joint venture responsible for most of the country’s crude production, has awarded USD…

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Energy Development Oman holding launched
NEWS
Oman - December 07, 2020

Energy Development Oman, a new holding that will spur energy investment and incorporate oil giant Petroleum Development Oman, has been launched, Oman’s official gazette…

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Ghassan Mirdad Schlumberger
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Abu Dhabi - August 06, 2020

Ghassan Mirdad, president of the eastern Middle East region at Schlumberger, talks to The Energy Year about the resiliency of the Middle Eastern oil and gas industry…

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Interview
Oman - June 02, 2020

The Energy Year, in partnership with Business Gateways, hosted a webinar entitled “Doing Business in Oman” in which Peter Szabadi, COO of The Energy Year, discussed…

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Interview
Abu Dhabi - May 04, 2020

Jaafar Altaie, managing director of Manaar Energy, talks to The Energy Year about what it will take for companies to survive the Covid-19 crisis and the role that data…

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Oman - April 21, 2020

The Energy Year talks to Said Al Maskery, director at Composite Pipes Industry (CPI), about the overall industry sentiment in Oman following the Covid-19 restrictions…

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