PDO scoops two awards at Abu Dhabi oil and gas event

Business Sunday 13/November/2016 17:25 PM
By: Times News Service
PDO scoops two awards at Abu Dhabi oil and gas event

Muscat: Petroleum Development Oman (PDO) has won two awards at this year’s prestigious Abu Dhabi International Petroleum Exhibition and Conference (Adipec), which is billed as the most influential event in the global oil and gas industry.
The company scooped the Best Oil and Gas Corporate Social Responsibility (CSR) Project for its support to Local Community Contractors (LCCs) and Super Local Community Contractors (SLCCs), Omani-owned companies supplying core services to the sector.
And it also won the Best Practice Award for its early monetisation of new hydrocarbon discoveries through early development facilities at fields such as Tayseer, Hawqa Zauliyah and Sadad North in response to the low oil price environment.
PDO’s Baader volunteering project, which allows staff to give their time and expertise to charities and non-government organisations, and its initiative to optimise gas handling in aging assets were also shortlisted for the Best Oil and Gas CSR Project and Best Practice Award respectively.
“I congratulate the winners and finalists for their magnificent achievements, which have once again demonstrated the excellence of PDO on the international stage,” said Raoul Restucci, managing director of PDO.
“Adipec is a banner event for the global oil and gas industry and our victorious teams were up against some very tough competition from other major players in the region. The awards are testament to the professionalism, dedication and expertise shown by PDO people on a daily basis and are a source of pride for all in Oman,” he added.
PDO established the LCC scheme in 1998 and has continued to support the businesses through a reserved scope in its main contracts. There are approximately 190 LCCs benefiting from PDO contracts, providing various services such as well, electrical, mechanical, civil engineering, logistics, manpower supply and equipment hiring.
PDO has also launched four SLCCs, which have over 9,300 shareholders drawn from its concession area. These provide core oilfield services such as well pulling hoists, flowline replacement and well services intervention and have a total capital value of OMR23.2 million.
The Adipec Best Practice Award came after PDO took a strategic decision to support Oman by developing newly explored fields in the shortest time and at the lowest possible cost to support the Sultanate’s economy.
“These awards show that we are staying true to our corporate vision to be renowned and respected for the excellence of our people and the value we create for Oman and all our stakeholders,” said Abdul-Amir Abdul-Hussein Al Ajmi, external affairs and value creation director of PDO.
“Through the LCC and SLCC programmes, we have been able to give a direct stake to communities in the oil and gas industry and develop Omani skills and capabilities; and our drive for early monetisation of opportunities has generated accelerated revenue for the nation in challenging times.”