The phased contract is the latest development in the Oil and Gas industry’s In-Country Value (ICV) Blueprint Strategy launched in December 2013 in which PDO is supporting efforts in job creation and training as well as providing commercial and investment opportunities for local businesses.

The contract valued at around 10 million Omani Rials for the first phase was signed today (13 February) at PDO’s Knowledge World centre in Muscat by the Company’s Managing Director Mr Raoul Restucci and OmEPC Chairman Mr Mohammed Al Said, representing the four-company partnership.

The Engineering, Procurement and Construction (EPC) contract is structured in three phases. The first is for three years and covers Engineering Services. Upon successful delivery, it will then be expanded to cover both Engineering and Procurement for a further three years and Construction Management will then be added at the end of year six.

“This is an important EPC contract for PDO as it will provide services for our business in key areas, utilising a skilled Omani workforce and providing opportunities for emerging local businesses in supporting their development,” said Mr Restucci.

“It is a further example of our long-term contribution and commitment to ICV in the Sultanate, creating jobs for Omani people by localising the supply chain,” he added.

The contract includes a broad range of technical services including Production Systems Optimisation, Small Project Design, Asset Verification, Process Engineering Flow Scheme (PEFS) conversion works and Front End Engineering Design (FEED) for smaller and less complex projects.
 
There is also the opportunity to extend the scope of work to include additional opportunities, e.g. Maintenance and Service activities, Shutdown Management, Construction Project Management and EPC contracting capability for medium sized projects.
 
OmEPC Chairman Mr Al Said commented: "OmEPC is a result of continuous ICV efforts by PDO to create meaningful employment for Omanis. With this contract, PDO has granted OmEPC an opening not only for employment of Omanis, but also development and growth of local EPC capabilities and capacity beyond the boundaries of PDO’s operations. 

“We are grateful to PDO for this opportunity and look forward to delivering the contract and living up to expectations," he added.
 
OmEPC was founded in 2018 by the four Omani SMEs allowing the strengths of each to be combined which broadens the services provided to the oil and gas sector.

PDO has played a significant role in the industry’s ICV Blueprint Strategy since its launch six years ago, leading 43 out of the 53 opportunities. Currently 28 opportunities have been realised through a wide range of activities including the establishment of Omani factories, workshops and repair facilities offering in-country engineering services, equipment and materials to the Oil and Gas sector. The provision of Engineering and Operation Services through EPC is Opportunity 8 in the Blueprint Strategy.    

Send us your press releases to pressrelease.zawya@refinitiv.com 

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.