Oman issues $44mn in contracts to boost oil sector

Additional 142 contracts worth about $1.3bn will be up grabs in the upcoming year

OOC said it will offer businesses help to win the new contracts.
OOC said it will offer businesses help to win the new contracts.

Oman Oil Company's (OOC) subsidiaries and affiliates signed 35 contracts with local Small and Medium Enterprises (SMEs) worth around $44mn in a move to boost the oil sector in the sultanate. 

The signing took place at the Business Opportunities Forum, used as a venue by the group to present a number of available business opportunities for SMEs within OOC and projects by its group of companies.

It also became known at the forum that aditional 142 contracts worth around $1.3bn will be up for grabs in the coming year to provide new avenues for companies looking to establish a foothold in the oil, gas and energy sectors.

Isam Al Zadjali, chief executive officer of Oman Oil Company, said: "The Business Opportunities Forum not only led to signing contracts with SMEs in the oil, gas and energy sectors, but offered a platform that will enhance the participation of new local and international entrants into the industry.

"Whether it meant facilitating knowledge transfer, sharing experiences or offering guidance, the event presented an opportunity to empower these enterprises and enhance their capabilities and resources."

The Oman Opportunities Forum was organised by the Oman Chamber of Commerce and Industry (OCCI) in partnership with Oman Oil Company and the Public Authority for Small & Medium Enterprises Development (PASMED).

More than 160 local and international companies attended the event, which was organised in line with OOC's strategy aimed to support the Sultanate's In-Country-Value (ICV) programme and deliver long-term sustainable development by stimulating growth across various sectors.

"We, along with our group of companies, support all national efforts that lead to developing a successful ICV programme and we are confident that the propositions we have introduced and tendered will boost the investment climate in Oman and increase the country's competitiveness amongst developed countries," Al Zadjali added.

Oman Oil Company, its affiliates and subsidiaries gave visitors on-ground advice and details on the available service agreements, their requirements, as well as the sub supply items needed for each of the projects.



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