Whatever the oil price in Oman, we will be able to handle it: PDO

Oman will be able to resist any fluctuations in oil prices due to efficiency and reduced costs, a top official at PDO said in an interview with Times of Oman.

“Whatever the oil price, we can handle it,” Raoul Restucci, Managing Director of PDO said. 

“We have hit records of excellence in efficiency and creating value every year and we look forward to doing more. We continue to remain profitable and reduce operating costs every year.”

In the annual report published recently, PDO said that it exceeded savings target last year and plans to save another $1.5 billion in 2017, thanks to its highly effective LEAN programme.

Commenting on the future of PDO, Restucci stated that although main operations of the company will remain oil and gas, they plan more ventures into renewables, value creation and consultancy services.

“We are an oil and gas company and will continue to be for a long time. However, we are looking forward to more projects in renewables and also provide the expertise we have gained over the years in internal operations such as efficiency and value creation to others. This will be PDO’s objective apart from delivering oil and gas,” he said.

Source: Timesofoman