- $53m contracts with local firms
- Omani job creation is priority
- Training future professionals
Oman’s OQ Exploration and Production (OQEP) has signed four contracts worth $53 million with local companies to help create jobs for Omani nationals.
The contracts include oil field operations, construction facility and rig drilling, as part of OQEP’s in-country value (ICV) programme.
“These agreements not only create new business opportunities for Omani enterprises but also deliver broad socio-economic benefits, including job creation for Omani nationals by securing long-term employment for skilled professionals,” OQEP said in a statement to AGBI.
In a separate statement, OQEP said it has launched Tamayuz, a programme that will train 430 Omani graduates in engineering, technical disciplines and administrative skills.
“The Tamayuz program is designed to develop national competencies, build expertise and enhance employability,” the statement said.
Oman is stepping up efforts to create jobs for Omani graduates. Each year, about 55,000 young Omanis graduate from school and college to enter the workforce, according to the ministry of manpower.
Last month, Mahad Bawaain, the minister of manpower, pledged to create 45,000 jobs this year reserved for Omani nationals only.
OQEP controls Oman’s significant hydrocarbon reserves, currently producing 221,200 barrels of oil equivalent per day.
OQEP was established in May 2009 as a limited liability company and listed on the Muscat Security Market (MSM) in October 2024. The company’ share price is down about 15 percent year to date.
OQEP’s core operations include crude oil and natural gas extraction, well drilling, field exploration, and oil and gas production services.
