News & Events
Unified registration system for oil sector contracts
"The goal is to take Omani companies internationally — something we’re looking to pursue through the Ministry of Oil and Gas. Initially, Omani contractors will be able to tap into opportunities in the Qatar oil and gas industry via this platform."
PDO, the country's largest oil and gas operator, says it is working to encourage its vast pool of vendors to register under the JSRS. "We have currently around 3,200 vendors registered with PDO. Of this number, around 800 have registered via the JSRS. Our target is to get all of our vendors to shift to the JSRS by mid-year, said Salim al Harthy of PDO's In-Country Value Department."
$5.6 bn Oman-India energy pipeline plans progressing
Initial development of a deep-water pipeline carrying natural gas and potentially even crude oil and other petroleum products from Oman to India could begin as early as before the end of this year, according to the lead promoter of the multi-billion dollar venture.
Dr Ajay Kumar, Chairman & Managing Director of India-based Fox Petroleum Group, which is spearheading the proposed scheme, said all of the critical elements encompassing the planning, technology, engineering design, pipeline supply, execution, and financing aspects of the ambitious development have been worked out in anticipation of an early commencement of the implementation phase.
Merger of Ominvest-ONIC would create robust holding firm: GBCM
Muscat: The merger of Oman International Development and Investment Co (Ominvest) and Oman National Investment Corporation (ONIC) Holding, the first between two prominent investment holding companies in Oman, would create one of the biggest investment conglomerates with investments spread across diversified business sectors including banking, leasing, insurance and industrials, according to Gulf Baader Capital Markets (GBCM).
"We believe that the combined entity would be in a strong position to achieve several economies of scale in their respective operating business segments and create value for the shareholders over the medium- to long-term perspective.