Oman continues economic reforms by listing drilling company on stock exchange
Oman’s fiscal performance has improved in the last year, and the country wants to produce more alternative forms of energy, such as hydrogen.
Oman announced Sunday it will sell a major stake in its state-owned drilling company.
Abraj Energy Services will list 49% of the company on the Muscat Stock Exchange via an initial public offering in March. The offering will be available to investors in Oman and internationally, with the exception of the United States, the official Oman News Agency reported.
Abraj is fully owned by Oman’s state oil and gas company, OQ.
The inability of US investors to buy Abraj is likely due to the sale not being registered in the United States. Abraj’s website simply cited “applicable legal restrictions” on the matter.
