Muscat: Oman Oil Company (OOC), the Sultanate's energy investment arm, has partnered with Schleupen to provide sophisticated risk management services to its member companies. OOC will leverage the unique capabilities of various systems developed by the European IT-services market leader in the risk management business sector to optimise risk management activities ranging from identification through evaluation to business risks reporting.
The agreement was signed by Mulham Al Jarf, deputy chief executive officer of Oman Oil Company and Heinz Heineke, shareholder of the supervisory board of Schluepen.
In the initial phase, Schleupen has installed the new systems at 18 of OOC's group of companies. In addition, end-users have received training on the systems' applications and benefits by qualified IT and risk management consultants.
"The deployment of this advanced platform will strengthen the performance of our risk management function leading to enhanced levels of operational efficiency. It will minimise human error ensuring information accuracy and timely monitoring of successful completion of action plans," said Mohammed Al Hinai, head of Risk Management at OOC.
"Providing the right tools and training for our risk champions will also help them identify opportunities and most importantly, propose valid solutions for emerging threats in all areas including operations, projects and acquisitions," he added.
Heinz Heineke, shareholder of the supervisory board of Schluepen said, "Over the last decade, interest in qualified risk management systems has witnessed increased momentum in emerging markets and particularly in the energy-related sector. Our agreement with OOC is our first contract outside of Europe and we are confident that showcasing our expertise in Oman and across the OOC group of companies around the world will boost our international expansion plans."