Occidental Oman signs two contracts

Business Wednesday 12/June/2019 16:31 PM
By: Times News Service
Occidental Oman signs two contracts
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, Occidental Oman signed two new contracts with LAMAD and Oilfield Inspection Services (OIS). By virtue of these contracts, LAMAD will provide Occidental Oman with metering services; while OIS will provide Occidental Oman with tubular inspection and repair services.
The signing ceremony was held at Occidental Oman’s headquarters in Muscat, under the auspices of Salim Nasser Al Aufi, Undersecretary at the Ministry of Oil & Gas. Stephen Kelly, the President and General Manager of Occidental Oman; Ibrahim Al Mahrouqi, owner of LAMAD; and Saif Al Tobi, CEO of OIS; were signatories for their respective organisations. Abdulkarim Al Ghassani, Vice President for Supply Chain; and other senior executives of Occidental Oman were present at the ceremony.
The awarding of the contract to LAMAD, a newly established local Omani SME, was based on the Vendor Development Programme, which is an ICV initiative aimed to develop local companies into a new capacity where very limited local companies are currently delivering.
“As a newly established SME, this contract will help us seize the opportunity to grow further with metering services in Oman. We highly appreciate the trust that Occidental Oman placed on us and we hope to thrive together,” said Ibrahim Al Mahrouqi, owner of LAMAD.
In addition, the contract with OIS, which will provide tubular inspection and repair services, was signed as part of Occidental Oman’s ICV initiative.
“We are excited by the opportunities this award will provide, and we feel confident that together we will facilitate and serve industry demands. The award is also a recognition of our determination to provide quality services of the highest standard,” said Saif Al Tobi, CEO of OIS.
“The Occidental Oman ICV strategy aims to increase and improve the sustainable development of Omani goods and services, both locally and internationally. Occidental Oman looks to its In-Country Value Program as a stepping stone to increasing the diversification of the economy, as the program reaffirms our wide-ranging commitment in developing a competitive Omani supply chain,” said Kelly.
This event makes concrete the efforts exerted by Occidental Oman to contribute to the Government’s ICV strategy. The signed contracts show Occidental Oman endeavor to support economic development in the country under the umbrella of strategic partnerships and continuous collaboration with key stakeholders.