Petroleum Development Oman’s (PDO) Finance Director Haifa bint Juma Al Khaifi has been appointed as the Chief Executive Officer (CEO) of the newly established Energy Development Oman (EDO).
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EDO was officially formed through Royal Decree 128/2020, marking a key milestone in PDO’s journey towards becoming a fully-fledged energy company. The new entity also provides important financing benefits, which will enhance the country’s fiscal position.
Key personnel in the company’s transitional leadership team as ratified by the EDO Board also included PDO Gas Director Moutaz Al Riyami as Chief Strategy & Commercial Officer, Ibrahim Al Eisri as Chief Financial Officer (CFO), PDO Planning and Deal Lead Ibrahim Al Waili as Corporate Planning and Services Officer, and PDO Finance Controller Saif Al Harthy as Board secretary.
On the announcement, Ms. Al Khaifi said: “The establishment of EDO is an extremely significant milestone for the Sultanate of Oman. Having led the establishment of EDO over the past year, and being a member of its Founder’s Committee, I am deeply honoured by my appointment as the transitionary CEO during this critical and exciting stage. I look forward to continue delivering extensive value to Oman with EDO, in addition to my role as the Finance Director of PDO.”
Ms. Al Khaifi added: “EDO will play a central role in the Sultanate’s energy transition as well as economic diversification. EDO’s establishment is part of the era of a renewed Renaissance for Oman, and contributes to the positive sentiment of international investors towards the country’s economy, as yet another example of the major reforms launched by H.M. Sultan Haitham bin Tarik. I take this opportunity to renew my pledge to serve Oman under the wise leadership of H.M. Sultan Haitham bin Tarik, and the renewed Renaissance.”
PDO Managing Director said: “I am truly delighted and proud of the senior PDO professionals appointed to lead EDO, and they will no doubt steer the new company into fulfilling its mandate while at the same time supporting PDO.
“We look forward to the multiple growth opportunities that the creation of EDO will bring about, including the opportunity to broaden PDO’s remit beyond its current mandate and exploit new areas of value creation for Oman and especially in terms of accelerated delivery of renewable energies.”