The majority state-owned Petroleum Development Oman (PDO) has announced the launch of a subsidiary company, PDO Services (PDO-S), which will look to commercialise the company’s expertise in the oil and gas energy value chain.
“This marks a significant stride in PDO’s efforts to pursue opportunities outside its concession area,” the company said in a social media post on 18 May.
The company has been registered under Oman’s Commerce, Industry & Investment Promotion Ministry, PDO said in its post.
“The new business will leverage the talent, knowledge and skills of PDO staff to offer niche technical and non-technical services to clients in a wide variety of areas,” the Omani energy company said.
It has yet to provide further details about its new subsidiary company or what its commercial portfolio will include.
In recent years, the company has been the main economic engine in propelling the localisation agenda in Oman.
In March, PDO awarded major service contracts worth $4bn to Omani firms, covering project delivery and maintenance and integrity work in the north and south of its block six concession area in the sultanate.
The agreements with Arabian Industries Projects and Special Technical Services encompass the design and execution of more than 200 on-plot projects and will run for seven years with an optional three-year extension.
The scope and scale of the contracts are significant, spanning the execution of maintenance, integrity, field improvement proposals, turnaround activities and the delivery of brownfield projects.
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