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PDO Holds Training for SLCC Boards
Petroleum Development Oman (PDO) has staged an extensive training course to boost the management skills of Super Local Community Contractor (SLCC) board members.
The Company’s In-Country Value Operations team worked with the Oman Centre for Corporate Governance and Sustainability (OCCGS) to provide the nine-day workshop at the Crowne Plaza in Muscat.
More than 50 SLCC board members and the Ministerial Action team (comprising representatives from the Ministry of Oil and Gas, the Ministry of Interior, Ministry of Commerce and Industry and PDO) participated in the programme.
The workshop was held to help raise the awareness of the SLCC executives on a range of important business areas, including their roles in terms of disclosure, transparency and protecting shareholder rights.
It follows one held in wilayat Sohar in June which covered corporate governance, commercial law, marketing, finance and performance monitoring.
The SLCCs were established by PDO as community-owned companies providing a range of core oil and gas activities, including hoist operations, wellhead maintenance and flowline replacement. They employ around 800 Omanis, have a capital value of more than RO 23 million and are owned by around 9,400 shareholders from communities in the PDO concession area.
PDO External Affairs and Value Creation Director Abdul-Amir Abdul-Hussein Al Ajmi said: “We are committed to supporting the development of the SLCCs as vehicles of Omani excellence, delivering a transparent, quality service for their customers and shareholders.
“The SLCCs are going from strength to strength, winning contracts, training staff and distributing dividends to their community investors. It is important that their progress is sustained, especially in this challenging low oil price environment, with high-calibre board members who are trusted to make the right decisions and act in their communities’ interests.”
Currently, there are five SLCCs: Al Sahari, Al Baraka, Al Shawamikh, Al Haditha and Al Khazain, and four have direct contracts with PDO in its core business. The current value of contracts awarded to the SLCCs is more than US$585 million and the value of work executed by them during 2015 was equivalent to US$96.3 million.
The training came after PDO signed an agreement with OCCGS in January to ensure the Company and its contracting community continue to operate to the highest performance and ethical standards. Under the terms of the Memorandum of Understanding, OCCGS provides training, development and advisory services in corporate governance and sustainability.
PDO In-Country Value Operations Manager Khalfan Al Busaidy said: “The workshop showcased PDO’s continuous commitment to support government directives to provide a sustainable environment for SLCCs. We remain committed with our partners to enhancing the capabilities, competencies, development and growth of SLCCs.”
Note to editors: Petroleum Development Oman (PDO) is the major exploration and production company in the Sultanate. It accounts for about 70% of the country's crude-oil production and nearly all of its natural-gas supply. The Company is owned by the Government of Oman (which has a 60% interest), the Shell Group (which has a 34% interest), Total (which has a 4% interest) and Partex (which has a 2% interest). Gas fields and processing plants are operated by PDO exclusively on behalf of the Government.
For further information please contact the PDO External Affairs Directorate:
Karima Farid Al Shahaibi,
Media Relations Advisor,
Tel: 2467-7756