EDO Reports $3.776 Billion in Q1 2025 Revenues: Key Insights for Investors and Business Owners in Oman

• By CONRAD PRABHU
• July 21, 2025July 21, 2025
• Energy finance Oman
• With 0 comments

MUSCAT: Energy Development Oman SAOC (EDO), the government-owned energy holding company, reported revenues of $3.776 billion for the first quarter of 2025. This reflects a slight decline from $4.005 billion in the same period last year.

In its unaudited interim condensed consolidated financial results for the first three months of this year, EDO revealed production expenses of $290.882 million, down from $333.128 million in Q1 2024. Royalty expenses also decreased marginally to $1.422 billion, compared to $1.577 billion a year prior. The profit before tax was recorded at $510.220 million, significantly lower than $890.416 million in the first quarter of 2024.

The company reported total assets of $27.534 billion, which remains comparable to last year’s $27.843 billion. Shareholders’ equity stood at $10.169 billion, similar to the previous year’s $10.197 billion. Total equity and liabilities also reflected last year’s figures at $27.534 billion.

EDO, affiliated with the Ministry of Finance, holds a 60% stake in the Block 6 Petroleum concession, operated by Petroleum Development Oman (PDO). Additionally, it owns the entirety of Block 6’s non-associated gas concession and Hydrogen Oman (Hydrom), the strategic planner for Oman’s green hydrogen sector.

Among EDO’s affiliates are Oman New Energies SPC (ONE), which aims to explore future power-related ventures but is currently inactive, and EDO Gas SPC (GasCo), which took over the participating interest in Block 6’s gas operations effective July 1, 2023. In June 2023, GasCo launched EDO Sukuk Limited, created to issue and manage Sukuk trust certificates.

Also within the EDO Group are EDO InfraCo SPC, currently not operational, and ECO SPC, a wholly owned subsidiary established in September 2024 to manage the inventory of surplus and scrap equipment from operations under the Block 6 agreements and other oil and gas projects in Oman.

Special Analysis by Omanet | Navigate Oman’s Market

EDO’s declining profits and slight revenue drop reflect shifts in Oman’s energy sector, signaling a need for businesses to adapt to fluctuating demand and operating costs. This landscape creates opportunities for innovation in green technologies, particularly with EDO’s focus on hydrogen initiatives, while also posing risks for stakeholders reliant on traditional oil revenues. Smart investors and entrepreneurs should consider diversifying portfolios toward sustainable energy ventures and monitor operational trends closely to capitalize on emerging market niches.