MUSCAT: Petroleum Development Oman’s (PDO) announced on Tuesday the official launch of PDO Services LLC (PDO-S), a PDO subsidiary, to enable the commercialisation of the company’s expertise.
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 announcement, which follows the registration of the subsidiary by the Ministry of Commerce, Industry and Investment Promotion as a legal LLC company, marks a significant stride in PDO’s efforts to pursue opportunities outside its concession area.
PDO Managing Director Raoul Restucci said: “The commercialisation of our services and transition to renewables – underpinned by the launch of PDO-S as well as Energy Development Oman (EDO) – are transforming the very nature of the Company, and we look forward to establishing new supply chains, enhancing value delivery and partnering with local enterprises to provide unrivalled propositions in support of Oman 2040 principles of productivity and sustainability.
“Our overall aspiration is to broaden PDO’s remit beyond its current mandate and exploit new areas of value creation for Oman.”
The objectives of PDO-S include leveraging and commercialising PDO’s technical and operating capabilities, accelerating technology transfer and transitioning PDO and Oman to new energies, and supporting a knowledge-based economy in the country.
PDO-S, which will be based at Mina Al Fahal, will provide services in seven main spheres: Upstream Learning and Development; Exploration geo-solutions; Health, Safety and Environment (HSE) and Logistics; Field Development Planning; Front-End Engineering Design (FEED) Consultancy; Project Management Consultancy (PMC); and Innovative Technologies.
It is hoped that the launch will pave the way for significant job creation, talent development and potentially lucrative knowledge export opportunities.
PDO New Business Development Manager Dawood al Qassabi added: “The establishment of PDO-S comes against an external backdrop of challenging oil and gas market conditions and long-term structural changes. We aim to capitalise on PDO’s strong funnel of Omani talent and inherent capacity and competitive edge in niche areas to deliver a raft of services in which we have established a strong reputation over the years.”