Oman Oil and Orpic Group are considering the possibility to sell a modest stake, according to Oman’s Minister of Oil and Gas Dr. Mohammed bin Hamad al Rumhy during the Oman Energy Forum 2019 on Monday. Al Rumhy said that a feasibility study on potential stake sale is proposed to be conducted next year.
The stake sale will likely take place after the integration process of Oman Oil & Orpic Group is concluded. The Minister said that a sale of a 15% to 25% stake is being discussed. The feasibility study will also assess the viability of the sale either through a sale of a minority shareholding to a strategic partner or an initial public offering (IPO).
Oman Oil & Orpic Group has pledged to be financially independent of its principal shareholder, the Omani Government. The group aims at spending a $28-billion investment in the energy sector over the next ten years. The group’s market capitalization is expected to increase to $30 billion by 2030.
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Published on November 28, 2019 6:35 PM (GMT+8)Last Updated on December 30, 2019 7:09 PM (GMT+8)
