State-owned Oman Oil Co ( OOC ), the national petroleum investment company, will restructure itself to support expansion and improve efficiency, chief executive Isam al-Zadjali said on Monday. "The size of the company has grown. OOC is now operating in 15 countries. And with more expansion, we needed to revisit the way we run our investments and the need to restructure the company," he told reporters. OOC's board of directors has approved a new structure under which one unit will consolidate the firm's domestic investments and look into selling some of the smaller assets, Zadjali said. According to its annual reports, OOC and its partners had invested OMR9.4 billion (USD24.4 billion) in companies within Oman as of 2013; 65% of its investments were inside Oman. A second unit will handle oil exploration and production after the restructuring and a third will handle infrastructure. A fourth will focus on projects in Oman's southern port city of Duqm, where a huge industrial complex is being planned, while the parent OOC will directly manage international investments. (Reuters)