Latest news with #IntegratedManagementSystem
Observer
27-05-2025
- Business
- Observer
OETC showcases 20 years of network growth and reliability
MUSCAT: Oman Electricity Transmission Company (OETC), the majority state-owned owner and operator of Oman's national transmission grid, has highlighted significant achievements in the development of infrastructure, while driving safety and sustainability as well. The company achieved over 58 million safe man-hours, having also boosted the length of its grid to over 10,200 kilometres, while adding 10.65 per cent clean energy to the network. As the pioneer Omani organisation certified Integrated Management System in six strategic sectors, at a level of Omanisation of 97 per cent, OETC continues to be at the forefront of propelling the goals of Oman Vision 2040. These achievements were outlined during the annual press conference on May 27, 2025 organised by parent organisation Nama Group at the Oman Conference and Exhibition Centre. The new milestone in 58 million safe man-hours with no lost-time injury underscores its commitment towards workplace safety — one of the fundamental pillars of human well-being in the OETC Vision. OETC is also the first Omani organisation and one of the first in the GCC region, to attain Integrated Management System (IMS) certification across six significant areas: quality, environment, health & safety, asset management, business continuity and information security. Eng Saleh Nasser al Rumhi, OETC CEO, reaffirmed the company's vital role in Oman's power industry, saying that, "Since its establishment in 2005, OETC has been a pillar in the electricity sector, responsible for transmitting electricity from power generation stations to main load centres around the Sultanate of Oman. We manage the national grid, achieving a fine balance between supply and demand, high efficiency and cost-effective supply of electricity. OETC supplies electricity at 132 kV and above; and controls interconnection lines with the Gulf Cooperation Council Interconnection Authority (GCCIA) at 220 kV." Speaking about the company's growth, Al Rumhi added, "The national grid has been extended in the past 20 years according to international standards. We have built over 116 grid Stations, of which 17 are 400 kV running and increased our transmission lines to over 10,200 kilometres. All these have paid us rich dividends with superb operating performance, achieving 99.9999 per cent reliability and 98.1112 per cent availability. These achievements not only indicate OETC's operational success but also indicate its strategic alignment with Oman Vision 2040 to empower national talent, develop infrastructure and integrate clean energy.' According to Oman Vision 2040's sustainability goals, OETC increased the percentage of clean and renewable energy in its grid to 10.65 per cent (1,855 GWh), reaffirming Sultanate of Oman's move towards a cleaner future. Financial strength is another aspect, with a Ba2 (stable) rating by Moody's and BB+ (stable) rating by Fitch. Paying off the $1 billion "Lamar" Bond in its entirety is a testament to OETC's fiscal responsibility and investment capacity. Being 97 per cent Omanised, OETC also helps in empowering national capabilities, responding to Oman Vision 2040's call to build human capital.
Iraqi News
31-01-2025
- Business
- Iraqi News
Oil Ministry: 194 wells will be drilled and reclaimed this year
The Iraqi Drilling Company counted, on Friday, the number of oil wells completed during the year 2024, while indicating that the current year's plan includes drilling and reclaiming 194 wells. The Deputy Director General of the Iraqi Drilling Company, Kadhim Habash Khalif, told the Iraqi News Agency (INA): "The company completed drilling 51 wells and reclaiming 137 oil wells in various Iraqi fields during the year 2024, including Zubair, Majnoon, West Qurna, Bazargan, East Baghdad, Dhi Qar, and Kirkuk, as part of its commitment to supporting national production operations and enhancing operational efficiency." He pointed out that "the company achieved the highest safety rating for 2024 in the Majnoon oil field, thanks to the effective application of the Integrated Management System (IMS) and strict adherence to health, safety and environmental standards, in addition to implementing intensive training programs to develop the skills of its cadres according to the latest international technologies." As part of its future vision, the Deputy Director General revealed "an ambitious plan for 2025 that includes drilling 64 wells and reclaiming 130 other wells, in an effort to enhance the production capacity of the Iraqi oil sector," indicating that "this plan will be reinforced by new strategic contracts with major international companies, such as BP, ENI, CNOOC, and Total, which reflects the great confidence in the company's capabilities and the efficiency of its technical operations." He continued, "The Company continues to implement qualitative projects that contribute to supporting the Ministry of Oil's plans to raise production levels, in line with national strategic directions," stressing "its keenness to adopt the latest technologies and achieve the highest levels of performance in the drilling and reclamation sector."
