News

12/09/2012 - PDO Signs $240MN Oil-Well Services Contract with Shaleem Petroleum.

It is a great pleasure to meet today to celebrate the award of this Hoist Services contract between Petroleum Development Oman and Shaleem Petroleum Company, which comes as the result of positive efforts during the past seven years between our two companies. During this time, Shaleem has completed the maintenance and servicing of more than 2,300 oil wells.

The new contract being signed today is for 10 years with a further 2 years of extension options and amounts to US $240 million. The contract requires Shaleem to continue to provide maintenance and workover services for PDO’s oil wells in the south of Oman, block 4.

This joint work between our two companies is only one example of PDO’s care for the local communities, and also reflects His Majesty Sultan Qaboos bin Said’s concern for the welfare of the local people.

Over the years, PDO has continuously provided strong support and assistance to the local community companies, not only by providing work contracts, but also by providing technical consultations and financial advice.

Shaleem Petroleum Company is committed to the policy of quality management in all of our activities, and to continuous improvement in safety performance, whilst also giving employment priority to Omanis. In this respect, Shaleem has achieved 76% Omanisation and has received appreciation awards from the Ministry of Manpower, in each of the last three years.

This new contract is a boost towards the future, which we enter full of trust, hope, optimism and confidence because this new contract will also provide our people with job security and opportunities for long term career development. For everyone, this contract provides hope for a better tomorrow.

I would like to stress here that PDO’s investment in the local communities is a profitable investment, and its success is well established. The people have perceived its positive impacts in improving the level of their incomes, and providing them with employment opportunities and training, it has also offered the chance for refining the skills of the national workforce.

The value of investing in the local communities is also apparent because local community communities companies are now competing successfully on merit with international companies.

Moreover, the local community companies are also delivering these services at lower prices. This has a positive benefit for PDO and for Oman.

Also, I would like to reiterate Shaleem’s commitment to the continuous improvement in standards of HSE performance and in our Quality Management Systems. We are determined to increase our capabilities by adopting whatever is new and beneficial to our operations and business effectiveness.

In conclusion, I would like to convey our thanks and appreciation to His Majesty Sultan Qaboos bin Said for his royal care. Special thanks to H. E. Dr. Mohammed Hamad Al Rumhi Minister of Oil and Gas, who is always by our side, supporting and understanding the needs of all of the local communities.

Our thanks also to PDO, and to Mr. Raoul Restucci in particular, for his continuous cooperation and encouragement since assuming his position in PDO. And lastly, thanks to you all, ladies and gentlemen, for gracing our event with your presence.