Muscat - Galfar Engineering and Contracting Co said it subcontracts 15 per cent of business to local contractors.
Speaking at the company's annual vendors' meet on Sunday, vice chairman and managing director Dr P Mohammed Ali said Galfar's subcontracts contribute to the local economy and thus benefit local communities.
"This has assumed importance as His Majesty the Sultan, in a recent declaration, had called for ten per cent of any contract to be subcontracted locally. We, at Galfar, have always subcontracted our activities. Currently, 15 per cent of our business is subcontracted. Presently, we procure nearly RO200mn of services from the local market, hiring equipment worth RO20,000 every day."
The company currently operates in Oman, India and Kuwait and plans to expand to other countries in the region.
"Currently, we work out of Oman, India and Kuwait. We have plans to expand to countries such as Saudi Arabia and Iraq in the future. As we grow, our main aim will always be to focus on the critical activity of the business and to subcontract the rest to local contractors," said Dr Ali.
"In Petroleum Development Oman (PDO) operations, we have engaged many local contractors. We want to develop small and medium contractors in Oman and help them grow their business," added Dr Ali.
The company was awarded an estimated RO50mn, two-year extension on its off-plot delivery contract (ODC) for the Qarn Alam oilfield by PDO in June last year.
© Muscat Daily 2013
