Petroleum Development Oman (PDO)
has signed an historic agreement with Qatari company ASTAD
International to discuss potential co-operation over executing some
The Memorandum of Understanding (MoU) signals the start of a
new approach for PDO as it gradually broadens and diversifies its
approach to generate greater value for the Sultanate and its
Under the terms of the one-year agreement, the Company will
form a joint team with ASTAD to examine the economic and commercial
viability of a more permanent partnership.
PDO Managing Director Raoul Restucci said: “The collaboration
with ASTAD represents a strategic partnership which could see PDO
expanding its role in project management in Oman. “Both parties
already have great expertise and experience in executing a wide range
of engineering and construction projects and we want to investigate if
we can pool our resources and bring about greater efficiency and
speed of delivery.
He added, “As PDO evolves beyond oil and gas into a fully-
fledged energy company with a greater focus on renewable energy
sources, you will see us leveraging our know-how and innovative spirit
in new directions”.
ASTAD has managed and delivered some of Qatar’s most
complex building and infrastructure projects in various sectors of the
construction industry. With more than 800 employees, it has worked on
over 250 projects covering education, healthcare, sports, commercial,
residential and transport.
ASTAD Chief Executive Officer (CEO) Ali bin Nasser al-Khalifa,
who signed the MoU on behalf of ASTAD International with Restucci,
said: This agreement is a reflection of the continued efforts ASTAD is
making towards enhancing business relations between Qatari and
Omani companies. This MoU aims to support the development of
building and infrastructure in both of our countries, ultimately
benefiting both of our nations’ economies”.
Source: Oman News Agency