In the name of Allah, the Beneficent, the Merciful.

Maldives National Oil Company was incorporated in 2003 with a clear vision to become an internationally, reputed, integrated, oil and gas company.

Today, the world economy is experiencing a down turn with deepening credit crisis, which poses a major threat to sustainability of oil and gas exploration industry around the world.

As we enter a new era, we need to expand on our strategic goals of increasing, resources and expanding markets and seeking a greater international role. It is of importance to the company to work towards realizing the parent company’s vision to venture into oil exploration in the Maldives and abroad.

Oil exploration is not new to Maldives, the two attempts which took place in 1968 and 1991 were unsuccessful. However, we feel that a third is a must Insha’Allah will give us better results.

As we progress to realize our dream on the exploration, a lot of constraints and difficulties will confront us and I am confident that with ongoing support of our esteemed parent company, State Trading Organization, and our staff, we shall be able to overcome as they come about. We all are confident in a bright future for the successful growth of Maldives National Oil Company in the years ahead.

Long-term sustained growth of a company requires that not only should all shareholders interest be protected, but the environmental impacts of operations are recognized and properly safe guarded.

We will strive to achieve our goals and perform our work to the highest international standards serving our clients, while benefiting the shareholders and the economy of our beloved nation, Maldives.

On behalf of the Management and the Board of Director of Maldives National Oil Company, I thank you for your support. As the company’s new Chairperson, I steadfastly look forward to exciting and challenging years of exploration and discovery.

Allah is our guide to righteousness.

Raheema Saleem
Chairperson
Maldives National Oil Company