Gulf Energy SAOC Opens its Second Manufacturing Facility in Oman

MUSCAT, December 12, 2019 - Gulf Energy SAOC opened its second manufacturing facility in Oman last month under the auspices of his Excellency Salim bin Nasser Al Aufi, Under-Secretary of the Ministry of Oil and Gas. The new facility will localize the manufacturing of casing accessories and enhance the In-Country Value (ICV) of the company. Located in Nizwa, Oman, the facility creates employment and training opportunities for locals residing outside urban areas. With this project, Gulf Energy SAOC becomes the first National company in the region to successfully manufacture casing accessories in Oman and export such products to neighboring countries.

His Excellency Salim bin Nasser Al Aufi, Under-Secretary of the Ministry of Oil and Gas commented: “I am pleased to see local companies, such as Gulf Energy, successfully setup manufacturing facilities to supply the market with locally manufactured products and equipment, a true translation of the In-Country-Value (ICV) strategy. This facility will create direct jobs for Omanis, and support to grow the Oil and Gas operation in the country while allowing more flexibility and efficiency in the supply chain.”

Mr. Abdul-Amir Al Ajmi, External Affairs and Value Creation Director at PDO commented: “This plant further reinforces PDO’s localization efforts and In-Country Value strategy, which aims to create jobs, training and learning opportunities for Omanis and enhance the domestic supply chain. It also underscores Gulf Energy’s commitment to enhancing the value it brings to the Omani economy as it will provide efficiencies to PDO as well as improve equipment delivery and installation lead times.”

“We are very proud to play a positive role in the economic development of Oman and the region and provide custom-made products to our customers” said Sherif Foda, Chairman of the Board and CEO of NESR. “Our manufacturing facility underscores our commitment to enhancing our sustainability through generating local value everywhere we operate. Through direct investments in local economies, creating local employment and training opportunities, exporting locally-made products to the world, developing in-country expertise and utilizing local suppliers, we are increasing our local content – a cornerstone of our ESG strategy - and protecting our license to operate in MENA markets. We are committed to creating shared social and economic value everywhere we work and ensuring we build long term employment. I would like to thank the Ministry of Oil and Gas, PDO and all our customers in Oman for their support of Gulf Energy SAOC, an Omani National Champion, and we look forward to delivering top quality, locally manufactured products to the region.”

Vice President of Gulf Energy SAOC in Oman Sultan Al Ghafri said: ''We are pleased to expand our manufacturing activities in Oman and enhance the In-Country Value of our business. We believe in Omani talents and are committed to contributing to the Omani economy throughout the value chain. The new facility will allow us to expand on hiring and training local talents – we already achieved 92% Omanization - and provide the industry with locally manufactured cement accessories and associated services including centralizers, stop collars and float equipment.”

Gulf Energy’s first manufacturing facility in Oman was opened in 2017.