Petroleum Development Oman signs three deals worth $35m

Petroleum Development Oman (PDP) has signed three contracts with Omani firms worth $35m for the supply and servicing of compressors.

Oman News Agency reports the contracts are part of plans to retain more oil and gas industry wealth within the country by developing local supply chains.

The deals include two contracts with Bin Salim Enterprises for the supply of instrument air compressor packages and the maintenance and repair of installed units.

The third contract signed with PipeLine Supply Company covers an existing compressor fleet.

“The deals will enable both the local manufacture of vital equipment for our operations and the development of Omani service engineers and repair facilities,” said Raoul Restucci, PDO managing director.

PDO has signed 15 deals under a blueprint to boost local business participation since it was unveiled in 2013.

The document, compiled by Accenture, identified 53 opportunities, of which PDO is leading the implementation of 38.

Roughly 38 per cent of the firm’s overall contracts are now placed with local businesses and as much as 53 per cent of its well engineering contracts go to local contractors.