-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Oman Energy Development Corporation, a relatively new state-owned company, is in talks with banks to raise $1.
5 billion in debt financing
, two sources said.
EDO was set up late last year to take ownership of Oman's largest oil block 6 and help raise debt
.
"EDO is seeking to raise about $1.
5 billion," a person familiar with the matter told Reuters
.
Sources said financing could be in the form of
loans.
Another source familiar with the scheme said the financing was to help fund
capital expenditures.
According to energy consultancy Wood Mackenzie, Block 6 is Oman's largest oil and gas business
.
The company is working with JPMorgan on its financing plans, according to sources, adding that lenders in the United Arab Emirates have strong interest in participating in the deal
.
In May, Energy and Mines Minister Mohammed al-Rumhy said EDO would formally launch an international campaign to raise $3 billion to fund
its operations.
The government said last year that EDO would work on oil and gas exploration and renewable energy projects
in Oman.
Oman recently raised $1.
75 billion in nine-year takaful bonds, and the Gulf state is rated sub-investment grade by all major credit rating agencies and faces a large amount of debt maturities
in the coming years.
Oman Energy Development Corporation, a relatively new state-owned company, is in talks with banks to raise $1.
5 billion in debt financing
, two sources said.
EDO was set up late last year to take ownership of Oman's largest oil block 6 and help raise debt
.
"EDO is seeking to raise about $1.
5 billion," a person familiar with the matter told Reuters
.
Sources said financing could be in the form of
loans.
Another source familiar with the scheme said the financing was to help fund
capital expenditures.
According to energy consultancy Wood Mackenzie, Block 6 is Oman's largest oil and gas business
.
The company is working with JPMorgan on its financing plans, according to sources, adding that lenders in the United Arab Emirates have strong interest in participating in the deal
.
In May, Energy and Mines Minister Mohammed al-Rumhy said EDO would formally launch an international campaign to raise $3 billion to fund
its operations.
The government said last year that EDO would work on oil and gas exploration and renewable energy projects
in Oman.
Oman recently raised $1.
75 billion in nine-year takaful bonds, and the Gulf state is rated sub-investment grade by all major credit rating agencies and faces a large amount of debt maturities
in the coming years.
