Latest news with #BadrbinSalimalMaamari
Observer
30-04-2025
- Business
- Observer
Development projects in Al Dakhiliyah under way
The Governorate of Al Dakhiliyah is witnessing the implementation of several development and investment projects, including the Al Dakhiliyah Square (Al Dakhiliyah Boulevard), the integrated public transport station, Nizwa Public Park, and the development of the entrance to the Wilayat of Nizwa, in addition to development and tourism projects in the Wilayat of Al Jabal Al Akhdhar. As part of the Ministry of Economy's efforts to promote sustainable economic development across various governorates of the Sultanate of Oman, Dr Said bin Mohammed al Saqri, Minister of Economy, and Eng Badr bin Salim al Maamari, Secretary-General of the Tender Board, conducted a field visit to Al Dakhiliyah Governorate to follow up the progress of vital projects. Shaikh Hilal bin Said al Hajri, Governor of Al Dakhiliyah, emphasised that the visit aligns with ongoing efforts to assess the implementation of development projects under the Tenth Five-Year Plan and the Governorate Development Programme. He highlighted the importance of collaboration between relevant entities to enhance project efficiency and achieve high performance and competitiveness indicators. He noted that Al Dakhiliyah Governorate boasts natural and cultural assets that position it as a promising investment destination. Stressing the need to leverage these resources, he underscored their role in stimulating the local economy, meeting citizens' aspirations and supporting local development efforts in line with national goals - particularly in education, health, tourism and agriculture. The visit included several visual presentations. Said bin Rashid al Qatabi, Director-General of Social Sectors at the Ministry of Economy, reviewed the governorate's economic and social aspects, along with key strategic projects aimed at infrastructure development and investment promotion, such as 'Al Jabal Al Akhdhar Front' project and heritage tourism initiatives. Al Qatabi highlighted Al Dakhiliyah's potential as a prominent economic and tourism hub, noting a 15.5-per cent increase in heritage site visitors in 2023. — ONA
Observer
18-04-2025
- Business
- Observer
EDO, Chinese firm to explore oilfield pipe production
MUSCAT: Building on its commitment to Local Content Development, wholly Omani government-owned Energy Development Oman (EDO) has signed an agreement with a major Chinese firm to study the potential for the localised production of steel pipes for Oman's pivotal Oil & Gas sector. Announcing the signing in a post on Thursday, EDO stated: 'As part of our commitment to supporting local content and enhancing manufacturing capabilities in Oman's energy sector, we have signed a Memorandum of Understanding (MoU) with Jiangsu Changbao Steel Tube Co of China to explore the development of a state-of-the-art Oil Country Tubular Goods (OCTG) manufacturing facility in the Sultanate of Oman.' Present at the signing, which took places under the auspices of Eng Badr bin Salim al Maamari, Secretary-General of the Tender Board, were Eng Azhar al Kindi, Chief Financial Officer — EDO and Cao Jian, Chairman of the Board — Jiangsu Changbao. 'This partnership is a key pillar of our strategy to achieve sustainable economic growth through effective collaborations that enhance local content and support the development of national industries. It also contributes to attracting strategic investments, empowering Omani talent and advancing the goals of economic diversification in line with Oman Vision 2040,' EDO added in its post. OCTGs are pipes and casings used in oil and gas drilling and production operations. Oman's requirement of OCTGs — across its portfolio of upstream oil and gas operators — is estimated to run into several hundred million dollars per annum, underscoring the pivotal importance of OCTGs in sustaining hydrocarbon activities in the country. Established in 1958, Jiangsu Changbao is one of the world's largest manufacturers of special steel tubes, with a combined production capacity of 1 million tonnes per annum across multiple production sites. In 2017, the Chinese firm launched its wholly-owned Oman subsidiary, Changbao Oman Oil Pipe Company, on a 21,200 m2 site in SOHAR Port and Freezone. Set up with an investment of $20 million, the Oman facility has an annual capacity of 50,000 tonnes of steel tubes. Importantly, the pact with Jiangsu Changbao Steel Tube is the second such agreement inked by EDO with a global manufacturer of OCTG goods so far this year — a move that underscores the sizable localisation production of OCTG hardware in Oman. In February, EDO signed a MoU with Sumitomo Corporation Middle East, the regional arm of Japanese-based global conglomerate Sumitomo, to explore the localisation of OCTG manufacturing in the Sultanate of Oman. EDO, by virtue of its 60 per cent ownership of oil resources and 100 per cent non-associated gas resources in Block 6 operated by Petroleum Development Oman (PDO), is the largest consumer of OCTGs in Oman by far. Sumitomo Corporation Middle East (SCME) is a longstanding supplier of OCTGs to Petroleum Development Oman (PDO). A specialised storage area for OCTGs has since been established in Port of Duqm's logistics zone as part of a 'Mill to Well' model designed to optimise supply chain efficiencies linked to the supply of these pipes to PDO.
