Muscat: Energy Development Oman (EDO) has launched its new brand identity by unveiling its corporate vision and logo.
The company was set up in Muscat in December 2020 to take over the government's 60 per cent stake in PDO’s Block 6 oil and associated gas, and 100 per cent in PDO’s Block 6 non-associated gas and condensate. PDO continues to operate Block 6, and EDO, through PDO, is responsible for the bulk of Oman's hydrocarbon output.
EDO’s vision – “To be a world-class partner for growth, driving a sustainable energy future” – will guide the business towards achieving its objectives of:
Creating a vehicle for growth, enhancing efficiencies and governance in Oman’s oil, gas and new energies sector
Alleviating the government's Block 6 funding requirements and
Unlocking value through diversification and value chain integration.
EDO Interim Chief Executive Officer (CEO) Haifa Al Khaifi said, “EDO’s ambitious vision is inspired by the Oman 2040 Vision of transitioning to renewables, leveraging world-class development opportunities and maximising value for Oman.”
“The new logo, which was designed by PDO Concept and Design Adviser Mohammed Al Mahrazy, also reflects our approach to energy and sustainability, as well as EDO’s values of driving forward the energy transition agenda.”
Following its establishment, through Royal Decree 128/2020, the transfer of the Block 6 oil concession (Royal Decree 21/2021) and the granting of a new Block 6 gas concession (Royal Decree 43/2021), EDO has made substantial progress on its journey to become the country’s energy champion and to support the Sultanate’s economic diversification.
In August 2021, EDO successfully secured $2.5 billion of financing at competitive rates to meet the funding requirements for Block 6.
New interim appointments to the EDO team have also been announced, including Saif Al Harthi as Chief Financial Officer, Aiman Al Shukaili as Chief Strategy and Commercial Officer, Kahlan Al Nabhani as Chief Corporate Planning and Services Officer and Dr Qassim Al Riyami as Chief Reserves Officer.
Al Khaifi who has over 25 years of experience in the energy sector and is the first female CEO of a Gulf Co-operation Council national energy company, commented, “These robustly qualified and experienced interim appointees will further energise EDO’s progressive journey during this transitional phase.”