Raoul Restucci, the Managing Director of Petroleum Development Oman (PDO), is retiring after a career that spans more than four decades, of which he served the Sultanate’s energy industry for 10 years.

The Managing Director, who took charge of PDO in 2010 was recently conferred with the Medal of Honour award for his outstanding contributions to his field of work by His Majesty Sultan Haitham Bin Tarik.

He also ranked 25th in the list of Top 100 CEOs in the MENA region by Forbes earlier this year. Restucci had overseen a workforce of over 8,800 employees, 70,000 contractors, 209 producing oil fields, 55 producing gas fields, and more than 8,000 active wells throughout his career in the Sultanate.

PDO is 60 per cent owned by the Oman Government, 34 per cent by Shell Group, 4 per cent by Total and 2 per cent by Partex.

Restucci began his career in the energy industry with Shell International in 1980, following his graduation from the Nottingham University in the UK with a degree in mining engineering.

Under his management, PDO also transitioned into an all-encompassing energy company with new renewable energy projects and in-country value (ICV) programmes that have supported Omanisation and other Government initiatives under the Oman Vision 2040.

He was also involved in the establishment of the Energy Development Oman (EDO), which will be headed by the seasoned Haifa Al Khaifi.