By:Zawya

MUSCAT: The Ministry of Energy and Minerals has firmly denied reports suggesting that the Sultanate of Oman is considering the sale of stakes in its natural gas production fields. The clarification comes in response to presumably a recent Bloomberg article that claimed the government was seeking partners for assets valued at $8 billion.

In a statement issued on Sunday, the Ministry said: “There is no intention to sell stakes in natural gas production fields in the Sultanate of Oman.” The Bloomberg report, citing anonymous sources, stated that Energy Development Oman SAOC (EDO), the state-owned firm, was exploring a potential minority stake sale in gas fields located in Block 6—an area that also hosts Oman’s most valuable oil reserves. The report added that a sale could help Oman raise funds to support public finances and investment programmes, and cited a valuation by consultancy Wood Mackenzie at approximately $8.2 billion.

The Ministry’s statement, however, rebuts those claims and reaffirms the government’s long-standing policy of retaining full ownership and strategic control over its upstream gas assets—seen as a national economic pillar under Oman Vision 2040.

In the statement, Dr Saleh al Anboori, Director General of Exploration and Production of Oil & Gas, Ministry of Energy and Minerals, emphasized that the Ministry is actively pursuing significant development projects in gas fields, in full compliance with international standards of sustainability and financing.

“This endeavour is underpinned by a solid financial base and carefully considered investment strategies that support the ambitions of the next phase, thus precluding any requirement to sell off natural gas producing assets,” the statement noted.

Debunking media reports concerning the disposal of interests in natural gas fields, the official stressed that the Ministry's priority is to enhance operational effectiveness and to draw in global technical and investment proficiency through prudent collaborations centered on the transfer of knowledge and the maximization of value creation within Oman, without compromising the ownership or sovereign rights over strategic national resources.

“The Ministry reiterates its complete commitment to the principles of transparency and accountability, and continues to engage in coordination with all local and international stakeholders to advance the interests of the Sultanate of Oman and reinforce its standing as a reputable regional hub within the energy sector,” it stressed.

Meanwhile, the Ministry also announced the start of the activities of Oman Petroleum & Energy Show (OPES) and Oman Sustainability Week (OSW) on Monday, May 12, 2025, at the Oman Convention & Exhibition Centre. The 3-day forum of events are being held under the supervision of the Ministry, it said.

“These events are organized as a direct result of the Sultanate of Oman's unwavering dedication to promoting sustainable energy and to achieving harmony between innovation, economic expansion, and environmental stewardship. This approach is integral to the Sultanate's initiatives to ensure the sustainability of its natural resources and to advance the energy sector in accordance with global progress. The Ministry of Energy and Minerals remains committed to its long-term strategy, centered on the development of national assets and the optimization of their benefits to realize the country's economic and developmental ambitions,” it added.