29 October 2011
MUSCAT -- Ali bin Saleh al Hashar, Corporate Affairs Manger at Oman LNG pointed out that the LNG project in the Wilayat of Sur in the Al Sharqiyah Region is one of the major sources for national economy. The project is the second biggest source of income for the country after oil. The company contributes by 12-15 per cent of the Sultanate's GDP.
In a statement to Oman News Agency (ONA), he said that Oman LNG Company is a joint stock company where the government owns 51 per cent of the shares and the remainder shares are owned by foreign investors.
The company operates three liquefaction trains, two of them owned by the company and the third one is owned by Qalhat LNG Company.
The production capacity of the three liquefaction trains hits more than 10 million MT of liquefied gas, which is exported abroad through gas tankers provided by Omani gas importers. He pointed out that the company receives 4 to 5 gas tankers at its terminal every ten days.
He added that the company ensures timely delivery until now has exported 1,132 LNG consignments.
The Company also observes the strict HSE rules and regulations. As for the importing markets for Omani gas, he pointed out that Japan and South Korea are the two major importers of LNG, in addition to Spain through Qalhat LNG Company.
In response to a question on the prices of Omani LNG, he pointed out that the company buys the feed stock from the government. The company also concluded gas purchase and sale agreements as per rates linked to oil prices, which may increase or decrease.
He added that the Omani gas prices are considered the highest in the world gas market. He affirmed that the project will be more vital and effective even if the price of oil barrel went down to $12.
He added that the company is making great profits at the gas contracts especially the long term contracts where the profits in some years are more than the cost of the project. He pointed out that 51 per cent of the prices of Omani gas go to the government.
As for the company social investment programmes, he added that Oman LNG owns the biggest social investment programme in the Sultanate. The programme is managed by a committee that includes representatives of the government, society and the company.
He added that the shareholders agreed to dedicate 1.5 per cent of the company net profits to social investment programmes. The company provides between $10-15 million each year for the social investment programmes that cover the different parts of the Sultanate in general and the wilayat of Sur in particular.
He added that Oman LNG has established three funds as part of its investment programme. Namely the National Fund, which serves the Sultanate, the Local Fund, which serves the nearby areas and the Reserve Fund, at which some funds are transferred for the use of the coming generations. He added that the selection of the projects is made according to the Social Investment Committee's decisions, which meet four months a year.
He pointed out that the company provided modern equipment to schools and health centres. It also coordinates with the Manpower and OPAL to avail job opportunities through training, in coordination with the private sector companies that will absorb them after training.
In this connection, he added that more than 700 male and female youths benefited from the training mingled with employment programmes, which was funded by the company as part of its social investment programmes.
He pointed out that the company strives to make the total amounts pumped at the Reserve Fund in the coming four years to $130 million. He affirmed that the amounts in the Fund now reached more than $75 million.
He added that the company is to establish a Oman LNG Company Marine School, in collaboration with Oman Marine College at a cost of RO 500,000. The project, which will become operational in 2013 will avail 20 to 30 direct job opportunity and will train 1,000 employees through the schools and higher education institutions which the company will co-ordinate with.
Ali bin Hamad al Alawi, Head of Employment and Human Resources at Oman LNG said that Oman LNG, a pioneer in Omanisation, has reached 88 per cent Omanisation rate. The number of employees at the company now stands at 410. 360 of them are Omanis.
He added that the company attaches great importance to training and rehabilitation of its employees. To this end, it invested about $5 million during last year on employee training programmes.
He added that training approach adopted by Oman LNG company provided the work market in the public and private sectors with a number of experienced people, especially in the field of human resource.
"In response to the royal directives of HM the Sultan, the company availed 100 jobs. 33 new employees will start their work next week. The company is processing the employment procedures for another 52 during this year. The company also provided 100 internal funded scholarships for study at the Al Sharqiyah, Dhofar, the Al Buraimi Universities and Sur University College in co-ordination with the Higher Education Ministry," he said.
"The company provided 400 training scholarships for Sur residents at a cost of RO 600,000. 200 scholarships have been linked to work at the private sector and another 200 are not linked. The company availed 50 scholarships as of today because of the unwillingness of the youths to avail from these training programmes, especially nominations are made through the Manpower Ministry.
MUSCAT -- Ali bin Saleh al Hashar, Corporate Affairs Manger at Oman LNG pointed out that the LNG project in the Wilayat of Sur in the Al Sharqiyah Region is one of the major sources for national economy. The project is the second biggest source of income for the country after oil. The company contributes by 12-15 per cent of the Sultanate's GDP.
In a statement to Oman News Agency (ONA), he said that Oman LNG Company is a joint stock company where the government owns 51 per cent of the shares and the remainder shares are owned by foreign investors.
The company operates three liquefaction trains, two of them owned by the company and the third one is owned by Qalhat LNG Company.
The production capacity of the three liquefaction trains hits more than 10 million MT of liquefied gas, which is exported abroad through gas tankers provided by Omani gas importers. He pointed out that the company receives 4 to 5 gas tankers at its terminal every ten days.
He added that the company ensures timely delivery until now has exported 1,132 LNG consignments.
The Company also observes the strict HSE rules and regulations. As for the importing markets for Omani gas, he pointed out that Japan and South Korea are the two major importers of LNG, in addition to Spain through Qalhat LNG Company.
In response to a question on the prices of Omani LNG, he pointed out that the company buys the feed stock from the government. The company also concluded gas purchase and sale agreements as per rates linked to oil prices, which may increase or decrease.
He added that the Omani gas prices are considered the highest in the world gas market. He affirmed that the project will be more vital and effective even if the price of oil barrel went down to $12.
He added that the company is making great profits at the gas contracts especially the long term contracts where the profits in some years are more than the cost of the project. He pointed out that 51 per cent of the prices of Omani gas go to the government.
As for the company social investment programmes, he added that Oman LNG owns the biggest social investment programme in the Sultanate. The programme is managed by a committee that includes representatives of the government, society and the company.
He added that the shareholders agreed to dedicate 1.5 per cent of the company net profits to social investment programmes. The company provides between $10-15 million each year for the social investment programmes that cover the different parts of the Sultanate in general and the wilayat of Sur in particular.
He added that Oman LNG has established three funds as part of its investment programme. Namely the National Fund, which serves the Sultanate, the Local Fund, which serves the nearby areas and the Reserve Fund, at which some funds are transferred for the use of the coming generations. He added that the selection of the projects is made according to the Social Investment Committee's decisions, which meet four months a year.
He pointed out that the company provided modern equipment to schools and health centres. It also coordinates with the Manpower and OPAL to avail job opportunities through training, in coordination with the private sector companies that will absorb them after training.
In this connection, he added that more than 700 male and female youths benefited from the training mingled with employment programmes, which was funded by the company as part of its social investment programmes.
He pointed out that the company strives to make the total amounts pumped at the Reserve Fund in the coming four years to $130 million. He affirmed that the amounts in the Fund now reached more than $75 million.
He added that the company is to establish a Oman LNG Company Marine School, in collaboration with Oman Marine College at a cost of RO 500,000. The project, which will become operational in 2013 will avail 20 to 30 direct job opportunity and will train 1,000 employees through the schools and higher education institutions which the company will co-ordinate with.
Ali bin Hamad al Alawi, Head of Employment and Human Resources at Oman LNG said that Oman LNG, a pioneer in Omanisation, has reached 88 per cent Omanisation rate. The number of employees at the company now stands at 410. 360 of them are Omanis.
He added that the company attaches great importance to training and rehabilitation of its employees. To this end, it invested about $5 million during last year on employee training programmes.
He added that training approach adopted by Oman LNG company provided the work market in the public and private sectors with a number of experienced people, especially in the field of human resource.
"In response to the royal directives of HM the Sultan, the company availed 100 jobs. 33 new employees will start their work next week. The company is processing the employment procedures for another 52 during this year. The company also provided 100 internal funded scholarships for study at the Al Sharqiyah, Dhofar, the Al Buraimi Universities and Sur University College in co-ordination with the Higher Education Ministry," he said.
"The company provided 400 training scholarships for Sur residents at a cost of RO 600,000. 200 scholarships have been linked to work at the private sector and another 200 are not linked. The company availed 50 scholarships as of today because of the unwillingness of the youths to avail from these training programmes, especially nominations are made through the Manpower Ministry.
© Oman Daily Observer 2011
