Oxy Oman signs four contracts with Omani companies

Business Sunday 10/December/2023 12:16 PM
By: Times News Service
Oxy Oman signs four contracts with Omani companies

Muscat: As part of its In-Country Value (ICV) strategy to support locally manufactured materials and maximize expenditure on goods and services made in Oman, Oxy Oman signed four new contracts with Asyad Express, Al Ghalbi International Engineering, Vision Advanced Petroleum Solutions (VAPS) and Gasway.

The signing ceremony was held at Oxy Oman’s headquarters in Muscat. Steven Lauver, the President and General Manager of Oxy Oman; Ibrahim Sultan Al Hosni, Acting CEO of Asyad; Sheikh Ali Al Junaibi, Chairman of Al Ghalbi International Engineering & Contracting; Zaid Al Siyabi, CEO of Vision Advanced Petroleum Solutions; and Younis Al Balushi, CEO of Gasway; were signatories for their respective organisations. Abdulkarim Al Ghassani, Vice President for Supply Chain at Oxy Oman, and other senior executives were present at the ceremony.

The contracts cover services integral to Oxy Oman’s operations:
Asyad will provide express courier & shipment services;
Al Ghalbi International Engineering & Contracting will provide High-Density Polyethylene (HDPE) lining services;
Vision Advanced Petroleum Solutions (VAPS) will supply gas lift materials; and
Gasway will provide gyroscopic services to support drilling activities.

The contract awarded to Asyad supports Omani services and capabilities, while the contract with VAPS supports an Omani manufacturing facility, in commitment to In-Country Value. In addition, the contracts with Gasway and Al Ghalbi International Engineering & Contracting were signed as part of Oxy Oman’s ring-fencing ICV initiative.

“The Oxy Oman In-Country Value strategy aims to increase and improve the sustainable development of Omani goods and services, both locally and internationally. Oxy Oman looks to its ICV programme as a stepping stone to increasing the diversification of the economy, as the programme reaffirms our wide-ranging commitment to developing a competitive Omani supply chain, in line with Oman Vision 2040,” said Lauver.

This programme demonstrates the efforts by Oxy Oman to contribute to the Government’s ICV strategy, and Oxy Oman’s endeavour to support economic development in the country under the umbrella of strategic partnerships and continuous collaboration with key stakeholders.