Energy Development Oman SAOC is a closed Omani joint stock company 100% owned by the Government of the Sultanate of Oman. The main activities of the Company, which was incorporated in December 2020 by Royal Decree No. 128/2020, include receiving oil and gas revenues, paying the annual capital and operating costs of production, developing, expanding the energy sector, and pumping more investments to enhance the financial and economic returns of the Sultanate. EDO seeks to achieve a set of main goals, the most important of which are applying international practices in managing and developing national wealth, raising the efficiency of oil and gas sector management, supporting Government plans to reduce production costs, increasing the volume of economic activity, enhancing ICV of oil activities, and excluding oil and gas expenses of Petroleum Development Oman (PDO) from the state’s general budget, achieving financial independence to ensure the financing of its projects independently to reflect the real value of the oil and gas sector, and improving the financial performance indicators of the Sultanate of Oman.