Oman refutes reports of divestment in gas assets

12/05/2025 04:28 AST

Oman's Ministry of Energy and Minerals has denied reports that the sultanate is considering selling stakes in its natural gas producing assets, saying the government has no current plans for such divestment.

Refuting some recent media speculation and rumours, Dr Saleh al Anboori, Director General of Exploration and Production of Oil and Gas at the Ministry of Energy and Minerals, said that the ministry is actively pursuing major development projects in gas fields, in full compliance with international standards for sustainability and financing.

"This endeavour is supported by a solid financial base and well-considered investment strategies aligned with the ambitions of the next phase, thereby eliminating any need to sell natural gas assets," Dr Anboori said in a statement issued on Sunday.

He firmly denied the circulating rumours about the potential sale of interests in gas fields, adding, "The ministry's priority is to enhance operational efficiency and attract global technical expertise and investment through strategic collaborations focused on knowledge transfer and maximising value creation within Oman - without compromising ownership or sovereign rights over strategic national resources."

Dr Anboori further emphasised that the Ministry of Energy and Minerals "reiterates its full commitment to the principles of transparency and accountability and continues to coordinate with all local and international stakeholders to advance Oman's interests and reinforce its status as a reputable regional hub in the energy sector."

On Friday, Bloomberg reported that Oman was considering the sale of a stake in its natural gas assets, potentially valued at around $8bn, as part of efforts to raise funds to support state finances and investments.

The ministry's clarification came ahead of the Oman Petroleum & Energy Show (OPES) and Oman Sustainability Week (OSW), which are set to commence on Monday at the Oman Convention and Exhibition Centre. Both events are being held under the supervision of the Ministry of Energy and Minerals and will run until May 14, 2025.

These events reflect Oman's unwavering commitment to promoting sustainable energy and achieving a balance between innovation, economic growth, and environmental stewardship. This approach is a core component of the sultanate's broader initiatives to ensure the sustainability of its natural resources and to advance the energy sector in line with global developments.

The ministry said that it remains dedicated to its long-term strategy, which focuses on the development of national assets and the optimisation of their benefits to realise the country's economic and developmental objectives.

Dr Anboori concluded that OPES and OSW 2025 jointly serve as a prominent platform to highlight the sultanate's progress, further strengthening its position as a leader in the energy and sustainability sectors.

Muscat Daily