BP Oman Khazzaan
Petrofac awarded $800mn contract for Khazzan gas project

Petrofac has been awarded a lump-sum contract worth approximately $800 million by BP for the Phase 2 central processing facility (CPF) at the Khazzan Phase 2 (Ghazeer) gas development in the Sultanate. This follows the $1.4 billion Phase 1 CPF Khazzan project, awarded to Petrofac in February 2014, which celebrated first gas on September 22, […]

Galfar wins
Galfar wins $15mn contract from Petrofac

Galfar Engineering and Contracting Company has been awarded a subcontract for an engineering, procurement and construction package for the Salalah LPG project of Salalah SFZCO by Petrofac E&C Oman for around $15 million. The completion period of the works of the subcontract is 17 months. “This is an important contract to Galfar and further serves […]

MCDC share sale roadshow evokes investors’ interest

Following the launch of the initial public offering (IPO) of Muscat City Desalination Company (MCDC) SAOG (under transformation), investors’ interest is gathering pace. The company, alongside its issue manager – Bank Muscat Investment Banking, held an IPO roadshow with key investors, as well as research analysts from brokerage houses. Investment opportunities in IPOs of the […]

BP Oman
The creation of Khazzan: From sand to city

How BP transformed a remote Omani desert to a massive gas operation facility the size of Greater London Converting a land mass covered by an enormous semi-sandy desert plain, dunes and flat terrain to a massive gas field, the size of Greater London, is nothing short of a miracle. BP Oman did exactly this when […]

National Finance plans RO22mn rights issue

National Finance Company has decided to convene an extraordinary general meeting on December 14 to seek approval from shareholders for raising its paid-up capital to OMR49.68 million from OMR27.93 million by way of a rights issue of 217.6 million shares. The rights share will be issued at a price of 127 baisas, which include a […]

Golden group to issue RO200mn sukuk

The Capital Market Authority has approved a plan by Golden Group to issue sukuk to the tune of RO200mn. The sukuk will be issued in different tranches and the first issuance will be for OMR50 million by way of a private placement, said a CMA release. The first issuance is with a tenor of five […]

Oman LNG to fund two key community projects in Sur

                        In celebration of Oman’s 47th National Day, Ahmed bin Abdullah al Shuhi, Minister of Regional Municipalities and Water Resources, laid foundation stones for two key projects funded by Oman LNG in Sur. The projects include establishing a fishermen loading jetty at Al Barr […]

Muscat Desalination
MCDC IPO opens for subscription

Muscat City Desalination Company (MCDC), which is opening its initial public offering today, said the company plans to offer a projected dividend yield of 8.3 per cent for the first five years, considering the offer price of 116 baisas. This compares with the average dividend yield of 5.9 per cent for the other power and […]

ACWA Power signs agreements for extending licence

ACWA Power Barka has signed three agreements with government entities to extend its licence until December 2021, the company said. These amendment agreements are for power and water purchase agreement, water purchase agreement for the second phase and natural gas supply agreement, which have been finalised with revised terms and conditions after negotiations with Oman […]

Al Anwar to sell 9 per cent stake in Ominvest for RO31mn

Al Anwar Holdings (AAH) plans to sell its 9 per cent stake in Oman International Development and Investment Company (Ominvest) to Oman National Investment Corporation for OMR31.16 million. The company has entered into a share sale and purchase agreement with Oman National Investment Corporation (ONIC) for selling 62.943 million shares of Ominvest at a price […]