Oman is moving full steam ahead with its oil production, establishing a new company for upstream oil and gas. Energy Development Oman (EDO) will have a stake in the majority state-owned Petroleum Development Oman (PDO) as well as developing independent projects. EDO will be primarily focused on Oman’s biggest oil field in Block 6, which currently produces 650,000 bpd . The company can attract funds independently as part of a plan to raise debt. They will “undertake hydrocarbon exploration and production operations” according to a government gazette announcement on Sunday. In addition, EDO will work in the fields of enhanced oil recovery, low carbon technologies, and solar thermal energy. Major Oman producer PDO is 60 percent owned by the Omani government, with Royal Dutch Shell, Total, and Partex splitting the rest. To date, PDO has 192 oil fields, 52 gas fields, 29 production stations, and approximately 9000 active wells. […]