EDO unveils a new brand identity and a new corporate vision
Muscat – Energy Development Oman (EDO) – the newly established state-owned energy company to finance the expansion of Petroleum Development Oman’s Block 6 concession area and the sultanate’s energy offerings, including renewables – has launched its new identity brand by unveiling its corporate vision and logo.
EDO was formed in Muscat in December 2020 to take over the government’s 60% stake in oil and associated gas from Petroleum Development Oman (PDO) and 100% in its unassociated gas and condensate from Block 6. PDO continues to operate. operate Block 6 and EDO, through PDO, is responsible for most of Oman’s hydrocarbon production.
EDO said its vision – âto be a world-class partner for growth, driving a sustainable energy futureâ – will guide the company towards achieving its goals. The objectives of the company are: to create a vehicle for growth, improve efficiency and governance in Oman’s oil, gas and new energy sector; ease the funding requirements of government block 6; and unlocking value through diversification and integration of the value chain.
In a statement, EDO Interim CEO Haifa al Khaifi said, âEDO’s ambitious vision is inspired by Oman Vision 2040 of transitioning to renewable energy, taking advantage of world-class development opportunities and maximizing the value for Oman. The new logo, which was designed by Mohammed al Mahrazy, PDO’s conception and design advisor, also reflects our approach to energy and sustainability, as well as EDO’s values ââof advancing the energy transition agenda. .
Following its creation by royal decree 128/2020, the transfer of the oil concession of block 6 (royal decree 21/2021) and the granting of a new gas concession of block 6 (royal decree 43/2021), EDO has made substantial progress on its journey to become the country’s energy champion and support the economic diversification of the sultanate.
In August 2021, EDO secured $ 2.5 billion in financing at competitive rates to meet the financing needs of Block 6.
New interim appointments within the EDO team were also announced, including Saif al Harthi as CFO, Aiman ââal Shukaili as Strategic and Business Director, Kahlan al Nabhani as Planning Director and of Corporate Services and Dr Qassim al Riyami as Director of Reserves. officer.
Haifa, who has over 25 years of experience in the energy industry and is the first female CEO of a national GCC energy company, said: âThese well-qualified and experienced interim appointees will energize more the progressive course of EDO during this transition phase.