OMANI CENTRE FOR INVESTMENT PROMOTION AND EXPORT DEVELOPMENT
Among the fastest growing economies of the world, Oman is a vibrant blend of tradition and modernity. With a century's old global trading heritage, the Sultanate is well placed to take advantage of opportunities in the new global economy and the Omani Centre for Investment Promotion and Export Development (OCIPED) has been established to assist private sector development in the Sultanate.

It's mission is to boost both local and international private sector development in key economic sectors in Oman and to promote the export of goods and services to key geographical markets.

However, due to international, regional and local economic and financial developments and in response to the need of developing the legal and institutional framework of the securities market, the Capital market law was issued in November 1998 according to which the MSM was restructured into three separate units. The law aims at activating the regulatory role, organizing all activities pertinent to the securities market, protecting investors, providing the appropriate climate for assuring safety of dealing in securities, and upgrading the efficiency of the Capital market in the Sultanate.

The three units are the Capital Market Authority (CMA), the MSM and the Muscat Depository and Registration Company (MDRC). The CMA and the Regulatory body aims at upgrading the efficiency of the capital market and organizing, licensing and monitoring the issue and trading of securities. In addition, it supervises the operations of MSM and all companies operating in the field of securities.

The second unit, the MSM (the exchange) deals with the registration and trading of securities and organizing any dealings according to listing requirements put forth by the Authority and that is in accordance with the criteria of investor protection.

PETROLEUM DEVELOPMENT OMAN

Petroleum Development Oman (PDO) is the major exploration and production company in the Sultanate. It accounts for more than 90% of the country's crude oil production and all of it's natural gas supply. The company is owned by the Government of Oman (which has a 60% interest), the Royal Dutch Shell Group (which has a 34% interest). Total FinaElf (which has a 4% interest) and Partex (which has a 2% interest).

OIL PRODUCTION & RESERVES

PDO finds oilfields and develops them. The crude oil that is produced from the field is not sold by the company but rather delivered to the storage facility at Mina Al Fahal, where it is loaded onto sea going tankers at the discretion of the Company's shareholders.

PDO reserves stand at 5.6 billion barrels of crude oil (including condensate, a liquid hydrocarbon that condenses out of natural gas). The company aims to find more oil than it produces, so continually adding to its reserves base.

GAS PRODUCTION & RESERVES

PDO explores for natural gas and operates the gas production and transportation system on behalf of the Government of Oman. The company delivers gas to the government gas system, which supplies fuel for most of the Oman's power stations, some of it's industries and to the Oman Liquefied Natural Gas (OLNG) plant at Qalhat, near Sur.

As a part of it's gas production operations, PDO also supplies some 70,000 barrels per day of condensate and some 180 tonnes per day of liquid petroleum gas, which is chiefly used for cooking.