Oman advances diverse energy portfolio: EDO
MUSCAT - Oman is set to undergo a major transformation in its energy sector over the next decade, with plans for broad-based expansion across both hydrocarbons and renewable energy sources, according to a key executive of the Sultanate of Oman's pivotal energy industry.
Mazin Rashid al Lamki, CEO of Energy Development Oman (EDO)—the wholly government-owned energy sector holding company—said the evolving strategy reflects global energy shifts while maintaining a strong commitment to domestic needs and export potential.
In an interview featured in the latest Oman-focused edition of Oxford Business Group (OBG), Al Lamki noted that nationwide assessments of the country's energy resources, currently nearing completion, indicate a 'stronger-than-expected' potential in oil and gas. Together with assessments of Oman's solar and wind capacity, a picture is emerging of a balanced energy mix catering to both domestic demand and exports.
'Overall, we are moving toward a more diversified and integrated energy portfolio. Once it reaches commercial scale, you will see Oman expanding oil, gas, renewables, and green hydrogen. It is not a transition away from hydrocarbons, but a strategic broadening to meet domestic needs and seize export opportunities in an evolving global energy landscape,' Al Lamki stated.
In line with this strategic direction, renewable resources are targeted to account for 30% of electricity production by 2030—a figure that could rise to 40–45%, according to current indicators. Hydrocarbon production is also expected to grow in response to sustained global demand, he noted.
Al Lamki also emphasized the need for greater investment in the country's energy infrastructure to meet the ambitious renewable energy targets by 2030.
'Oman must expand its electricity infrastructure to meet the 2030 renewable energy target. Today's grid is designed for 11 GW of capacity, but by 2030 we expect that figure to rise to 35–40 GW. This requires investment in transmission and distribution infrastructure,' he said.
One key area of focus, he added, is the development of common-use infrastructure to support both green hydrogen and renewable energy projects—a move that would help lower costs and maximize efficiency.
'Public-private partnerships (PPPs) will be key to this process. We are looking at PPP models to support grid expansion, particularly in the northern regions. Existing oil and gas transport infrastructure may be adapted to move hydrogen and desalinated water. Coordinated planning across electricity, water, and hydrogen infrastructure will be essential—and shared investment models will make that feasible,' he explained.
When asked about potential sources of foreign direct investment (FDI) to support Oman's energy infrastructure, Al Lamki cited countries in Asia and Europe as particularly promising.
'These countries are seeking reliable, long-term supplies of both clean and conventional energy, and Oman stands out as an appealing partner due to its geopolitical stability, rich resource base, and clear commitment to energy diversification,' he said.
Affiliated with the Ministry of Finance, EDO owns 60% of the Block 6 concession operated by Petroleum Development Oman (PDO), 100% of Block 6's non-associated gas concession, and 100% of Hydrogen Oman (Hydrom), the master planner of the Sultanate's green hydrogen industry.
2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
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