Oman Localization Strategy Garners $650m in Contracts

Oman Localization Strategy Garners $650m in Contracts

Multi-million dollar contracts were signed by corporate entities, including small and medium enterprises (SMEs), in various fields during the Business Opportunities Forum at the Oman International Exhibition Centre at Seeb, reported the Times of Oman.

Many of the companies involved are in the petroleum sector, including Petroleum Development Oman (PDO), Oman Airports Management Company (OAMC), Oman Oil Refineries and Petroleum Industries Company (Orpic), Haya Water, Nama Group, Oman LNG, Sohar Aluminium, Al Madina Real Estate company, Saud Bahwan Group, Jindal Shadeed, and Daleel Petroleum.

In the case of PDO the company signed six contracts worth $650m for the next ten years, with in-country value (ICV) provisions for the training of Omani engineers and the local manufacturing of components such as vessels, coolers and transformers, said Trade Arabia.

This will maximize the use of PDO’s in-house repair workshops, train and recruit Omani engineers and technicians and reinforce local content in their submitted contract plans.

The contracts include supply, installation and maintenance of 29 centrifugal compressors for international engineering companies Siemens, General Electric International and Omani firm OHI Petroleum and Energy Services, and its partners MA Diesel and Turbo Schweiz.


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