BUSINESS REPORTER
International oil and gas exploration and production company Occidental of Oman, Inc, a wholly owned subsidiary US based Occidental, says it continues to grow its contribution to In-Country Value (ICV) development, either directly or through its contractors.
Occidental is currently the largest independent oil producer operating in the Sultanate, with major operations in the north, primarily at Safah Field, and in central Oman at Mukhaizna Field.
Occidental was also recently awarded three new exploration blocks, more than doubling its land position in Oman to 6 million gross acres.
The ICV contribution of Oxy’s contractors reached 49 per cent by Q3, 2020 compared to 47 per cent last year in the same period, the company stated in the 2020 Annual Report of the Ministry of Energy and Minerals.
In support of ICV initiatives, Occidental Oman established a development programme for Omani Small and Medium Enterprises (SMEs) in 2013.
As of end of Q4 2020, the headcount of the participated SMEs increased to 325 and achieved a growth up to 50 per cent.
The average Omanisation within the participated SMEs reached in the same quarter to 77 per cent with total of 225 Omanis headcount and three SMEs have already achieved 100 per cent Omanisation, it said,
Overall, participants achieved up to 215 per cent total increase in contract value reaching a comprehensive total increase of $151 million. In addition, nine ISO Certifications and one API Accreditation have been received by the participants SMEs, 74 of participants’ personnel have been enrolled in soft skill training, and 38 of participants’ personal have been enrolled in technical training.
In addition, Occidental Oman has initiated and supported a number of ICV initiatives to improve the capacity and capability of Omani contractors, and ring fencing of certain services to Omani companies, which has resulted in the creation of new employment opportunities, and enhancement of Omani SME and capabilities.
Key ICV accomplishments by the company in 2020:
• Identified one manufacturing opportunity for supply of Flexible Flow Line Pipes RTP and Fittings.
• Awarded two ICV opportunities for supplying dolomite lime.
• Sponsored a new ICV opportunity for manufacturing of casing accessories.
• Awarded ring-fencing initiatives for supplying caustic soda; for high temperature logging; for fasteners studs & bolts; and for premium connection machine shop.
• Awarded VDP Scope Initiatives for Shaker Screen Fluid Vacuum System; for Provision of Refurbishment of Screws & Liners; for LAMIS Metering Uncertainty Calculation Software; for Expediting Management System (EMS); and for LAMFLOW Technology.
Additionally, Occidental Oman has developed and implemented a long-term sustainable hiring strategy for Omanis. This strategy has contributed to generating more than 3,400 employment opportunities, and has resulted in 93 per cent Omanisation of Occidental Oman’s workforce as of 2020.
Oman Observer is now on the WhatsApp channel. Click here
