Petrojet and Enppi are set to grab a slice of Petroleum Development Oman’s USD 6 bn project pipeline

Petrojet and Enppi have secured a six-year route into Petroleum Development Oman’s (PDO) USD 6 bn+ project pipeline. The Egyptian consortium was selected as one of four international contractors and alliances eligible to compete for engineering, procurement, and construction work under a long-term framework with PDO, according to a statement from the Oil Ministry.

Not a USD 6 bn contract: The figure refers to the total portfolio of projects PDO will put out to competitive tender during the framework period, not work already awarded to the consortium. The ministry did not disclose a guaranteed minimum or when the first tenders will be launched.

The local-content leg: Petrojet and Enppi will transfer technical know-how, help train Omani engineers, and bring local contractors and suppliers into project delivery in line with Oman’s in-country value requirements.

The bigger picture: Enppi entered Oman in May with a USD 355 mn turnkey contract to expand PDO’s Birba gas facilities. It is also building four natural gas liquids storage tanks for Aramco in Saudi Arabia. Petrojet is leading a USD 1.1 bn oilfield development in Algeria and has a USD 160 mn infrastructure contract at Saudi Arabia’s King Saud Air Base. The two companies are also jointly executing a USD 1.24 bn gas preconditioning project for Adnoc in the UAE.

Why it matters: The framework pushes the companies’ regional expansion beyond one-off contracts by giving them repeat access to hard-currency tenders from a major Gulf producer. The move reflects the broader push by local Egyptian companies to look abroad for new markets and foreign-currency revenues — the country’s net outward FDI rose 30.3% y-o-y to USD 508 mn in 2024 — but the value of this agreement will depend on how much of PDO’s pipeline Petrojet and Enppi manage to convert into awarded work.