1937
Sultan Said bin Taimur grants a 75-year concession to the Iraq Petroleum Company, which sets up a subsidiary – Petroleum Development (Oman and Dhofar) Ltd – to carry out the operations.

1951
Dhofar relinquished from the concession; thereafter, the Company adopts the name Petroleum Development (Oman).
1956
First exploration well is drilled; it is dry.
1962
After drilling several more dry wells, Petroleum Development (Oman) finally strikes oil at Yibal.
1967
The first export cargo of Omani oil – 543,800 barrels – is loaded onto a tanker.
1969
Dhofar is regained as part of the Company’s concession.
1974
The Government acquires a 60 per cent stake in the Company.
1978
On behalf of the Government, the Company constructs a gas pipeline from the Yibal field to the coast, fueling a power and desalination plant at Al Ghubrah.
1980
The Company is registered by Royal Decree as a limited liability company under the name Petroleum Development Oman and its ammonite logo is introduced.
1991
Major gas discoveries are made at Saih Rawl and Barik in central Oman.
1996
The Company takes on the responsibility for delivery of gas from the central Oman fields to a liquefied natural gas plant near Sur for a period of 25 years.
1998
The Company launches its Local Community Contractor initiative to support the development of companies within its concession area, thereby promoting economic growth.
1999
The Central Processing Plant at Saih Rawl and the gas pipeline from Saih Rawl to the Oman Liquefied Natural Gas plant at Qalhat are commissioned.
2000
The Company becomes the first exploration and production company in the Middle East to achieve the ISO 14001 environmental-management certification for the entirety of its operations.
2002
The Company embarks on a long-term strategy to grow its oil production on the basis of enhanced oil recovery projects.
2005
The Company’s concession is extended to 2044 – eight years in advance of the expiry date of the original 1937 concession deal.