Energy Development Oman (EDO) has successfully secured $2.5 billion of debt financing to meet the funding requirements for Block 6, the country's largest oil and gas operation, state-owned Oman News Agency said on Sunday.
The debt financing transaction was oversubscribed by more than 100 percent, the ONA statement said.
Established in 2020, EDO represents the government's ownership of Block 6 and its shareholding in Petroleum Development Oman (PDO), the country's largest oil and gas producer.
In May 2021, local English language newspaper Oman Daily Observer, quoting an S&P Global Platts report, said EDO will own 100 percent of gas and 60 percent of the oil inside Block 6.
(Writing by N Madhura; Editing by Anoop Menon)
(anoop.menon@refinitiv.com)
This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021
