Muscat: Occidental of Oman (Oxy Oman) on Monday signed agreements with three Omani-owned small and medium enterprises, as part of the company's in-country-value (ICV) initiatives.
The signing ceremony was conducted under the auspices of Nasser bin Khamis Al Jashmi, Undersecretary at the Ministry of Oil and Gas. Oxy Oman's SME development programme provides tailored, non-financial support that enhances the capacity and growth potential of Omani SMEs that demonstrate high potential for maximising ICV and Omani job creation, said a company release.
The programme is designed to contribute to the growth and development of the SME sector in Oman by identifying Omani SMEs with high potential and enhance in-country value and create jobs for Omanis. It will also help in implementing customised development programmes that enhance capacity and growth potential of Omani SMEs by increasing their long-term competitiveness.
Oxy Oman launched its SME Development Programme in May 2013, which includes a comprehensive selection process, thorough evaluations and in-depth reviews of shortlisted companies. Three Omani-owned SMEs were selected to participate in the 2013 SME development programme, based on their alignment with Oxy Oman's objectives, their commitment to enhancing ICV and their high potential for growth and Omani job creation.
The programme is co-sponsored by Mitsui Exploration and Production, a subsidiary of Mitsui & Co and a partner of Safah and Wadi Latham fields in northern Oman.