Muscat, April 7th 2014 - With its proven track record in implementing the best risk management practices in Oman, Oman Oil Company (OOC) organised the first annual OOC Enterprise Risk Management (ERM) seminar to further support implementation of its (ERM) programme. Deputy CEO of OOC Mulham Al Jarf gave the keynote speech of the event highlighting the company's risk management practices and enhanced contingency plans that support key investment decisions.
"After one year of launching our ERM programme, we have taken significant steps towards risk management transparency, consistent with our expectations of all OOC group of companies. OOC's risk management policy is enterprise-driven as opposed to departmental-driven. It is important for us to implement a sound framework that maximises efficiency and ensures long term financial health. Our focus is to be a benchmark for advanced risk management practices by deploying a model tailored to the complexities and peculiarities of the Omani market."
The event, organised by the Risk Management Department at OOC brought together industry experts who shared insights on a number of trending topics including the role of risk management in projects, managing risk strategically, as well as risk financing and insurance.
About Oman Oil Company
Oman Oil Company S.A.O.C (OOC) is a commercial company wholly owned by the Government established in 1996 to pursue investment opportunities in the wider energy sector both inside and outside Oman. The Company plays an important role in the Sultanate's efforts to diversify the economy and to promote domestic and foreign investments as well as fostering and building human capital.
© Press Release 2014
