Oman state-run oil firm will make initial public offering, potentially seek billions

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Oman state-run oil firm will make initial public offering, potentially seek billions
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An Omani state-run oil and gas company says it will make an initial public offering of its exploration and production business, potentially seeking billions in a major move toward privatization in the sultanate

This is a locator map for the Gulf Cooperation Council member states: Saudi Arabia, Bahrain, Qatar, Oman, Kuwait and United Arab Emirates. An Omani state-run oil and gas company announced Monday it will make an initial public offering of its exploration and production business, potentially seeking billions in a major move toward privatization in the sultanate.and the Abu Dhabi National Oil Co. to seek to raise money through the markets.

“The intention to float OQ Exploration and Production reflects our commitment to unlocking new opportunities for growth, both for the company and for the sultanate of Oman,” OQ CEO Ashraf Hamed Al Mamari said in a statement.

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