Overview
Petroleum Development Oman (PDO) is the largest oil and gas exploration and production company in the Sultanate of Oman, accounting for approximately 70 percent of the country’s crude oil production and nearly all of its natural gas supply. Established in 1937, PDO operates under a concession agreement covering a vast area in central and southern Oman. The company is jointly owned by the Government of Oman holding 60 percent, Royal Dutch Shell at 34 percent, TotalEnergies at 4 percent, and Partex at 2 percent. PDO has been instrumental in developing Oman’s hydrocarbon resources over decades, employing advanced enhanced oil recovery techniques to extract oil from mature and technically challenging reservoirs.
Key Facts
- Founded in 1937, began oil exports in 1967
- Produces approximately 650,000 barrels of oil per day
- Operates in a concession area of roughly 90,000 square kilometres
- Employs over 8,000 staff with high Omanisation rates
- Pioneer in enhanced oil recovery techniques including thermal and chemical EOR
- Operates the Miraah solar thermal project for steam generation in oil recovery
- Significant natural gas producer supplying domestic and export markets
Significance for Vision 2040
PDO remains the backbone of Oman’s fiscal revenues and will continue to play a critical role during the transition period envisioned by Vision 2040. While the strategy aims to reduce dependence on hydrocarbons, oil and gas revenues remain essential for funding diversification investments in the near and medium term. PDO’s high Omanisation rates make it one of the largest employers of Omani nationals in the private sector, supporting the human capital development objectives of Vision 2040. The company’s investments in solar energy for oil operations and its commitment to reducing gas flaring align with Oman’s environmental sustainability goals. PDO’s In-Country Value programme also channels significant procurement spending into the local economy, strengthening Omani SMEs and supply chain capabilities.