16 May 2013
Muscat: Petroleum Development Oman (PDO) yesterday signed a $40 million contract with one of its super local community contractors (SLCCs) as part of its in-country value (ICV) drive to boost Omani business and to create increased employment opportunities in the Sultanate.
Al Baraka Oilfield Services has been appointed to carry out the replacement and maintenance of flowlines in Bahja in the southern part of PDO's concession area, said a PDO statement.
The two-year deal, which has a one-year extension option, was signed by, PDO Managing Director Raoul Restucci and Sheikh Ghanim bin Dhahir bin Hilal al Bathari, Chairman of Al Baraka Oilfield Services.
"Al Baraka is an Omani company which has demonstrated that it is capable of delivering major oilfield projects to a high safety and technical standard. We are determined to sustain this and other SLCC partnerships to create job and training opportunities and help build up the capacity and capability of local businesses," said Restucci. "This announcement is the latest landmark on PDO's in-country value journey, which aims to bring tangible economic and employment benefits to Oman by investing local goods, services and people." Last year, PDO granted Al Baraka two contracts in the southern concession area -- a 10-year hoist services deal valued at $90 million and a five-year pact covering pipeline maintenance worth $33 million.
"We are delighted to extend our relationship with PDO for the provision of oil services. This new agreement represents further evidence that the SLCCs staffed by Omanis can meet the high standards of PDO and execute significant projects professionally and diligently," said Sheikh Ghanim al Bathari.
The SLCCs are registered as closed Omani shareholding companies on the Muscat Securities Market and they are owned by thousands of individual investors who live in PDO's concession area. Al Baraka is one of four SLCCs working in partnership with Petroleum Development Oman across its operations.
Muscat: Petroleum Development Oman (PDO) yesterday signed a $40 million contract with one of its super local community contractors (SLCCs) as part of its in-country value (ICV) drive to boost Omani business and to create increased employment opportunities in the Sultanate.
Al Baraka Oilfield Services has been appointed to carry out the replacement and maintenance of flowlines in Bahja in the southern part of PDO's concession area, said a PDO statement.
The two-year deal, which has a one-year extension option, was signed by, PDO Managing Director Raoul Restucci and Sheikh Ghanim bin Dhahir bin Hilal al Bathari, Chairman of Al Baraka Oilfield Services.
"Al Baraka is an Omani company which has demonstrated that it is capable of delivering major oilfield projects to a high safety and technical standard. We are determined to sustain this and other SLCC partnerships to create job and training opportunities and help build up the capacity and capability of local businesses," said Restucci. "This announcement is the latest landmark on PDO's in-country value journey, which aims to bring tangible economic and employment benefits to Oman by investing local goods, services and people." Last year, PDO granted Al Baraka two contracts in the southern concession area -- a 10-year hoist services deal valued at $90 million and a five-year pact covering pipeline maintenance worth $33 million.
"We are delighted to extend our relationship with PDO for the provision of oil services. This new agreement represents further evidence that the SLCCs staffed by Omanis can meet the high standards of PDO and execute significant projects professionally and diligently," said Sheikh Ghanim al Bathari.
The SLCCs are registered as closed Omani shareholding companies on the Muscat Securities Market and they are owned by thousands of individual investors who live in PDO's concession area. Al Baraka is one of four SLCCs working in partnership with Petroleum Development Oman across its operations.
© Times of Oman 2013
