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Oman Government Appoints Female as Head of Major Oil Block

Oman’s government has named Haifa Al Khaifi as head of a new company that controls the country’s biggest oil block, a rare appointment for a woman in a male-dominated sector in the Middle East. Al Khaifi will be the chief executive officer of Energy Development Oman, which ultimately owns the sultanate’s 60 per cent stake in Block 6, a huge field capable of producing around 650,000 barrels of crude each day. She joins from Petroleum Development Oman, the Gulf nation’s state-run oil and gas exploration and production firm, where she was the chief financial officer. Al Khaifi is also chairwoman of the Saudi Arabian unit of State Street Corp, the Boston-based custodian and money manager. Bloomberg reported in November that Oman, which is struggling to finance a budget deficit that soared last year, may issue around $3 billion of bonds off the back of Block 6. JPMorgan Chase & Co is advising the government…