Oman’s PDO rebrands as a low-carbon entity

Petroleum Development Oman has redefined its corporate mission and pledged to lower the carbon intensity of the local energy industry, the Omani E&P giant announced on Wednesday.

The new strategy will see the company reduce its carbon dioxide emissions from 10.5 million tonnes in 2021 to 6 million tonnes by 2030 and achieve net-zero emissions by 2050.

Petroleum Development Oman’s new purpose was unveiled at the Oman Sustainability Week event, which it co-hosted along with the Ministry of Energy and Minerals.

“This strategic direction places increased emphasis on leveraging new technologies, boosting collaboration with relevant institutions, and improving overall energy efficiency and water-management processes,” said Steve Phimister, managing director of Petroleum Development Oman.

“The goal is to ensure longevity in a low-carbon world.”

Petroleum Development Oman is responsible for around 70% of the country’s oil and gas production.

The entity is majority owned by the government, with Shell holding a 34% stake, TotalEnergies a 4% stake and Partex a 2% stake.