Oman Looks To Make The Most Of Its Dwindling Oil Reserves

Oman is moving full steam ahead with its oil production, establishing a new company for upstream oil and gas. Energy Development Oman (EDO) will have a stake in the majority state-owned Petroleum Development Oman (PDO) as well as developing independent projects.  EDO will be primarily focused on Oman’s biggest oil field in Block 6, which currently produces 650,000 bpd. The company can attract funds independently as part of a plan to raise debt. They will “undertake hydrocarbon exploration and production operations” according…