Committed To National Priorities

Isam bin Saud Al Zadjali, CEO, Oman Oil Company shares his thoughts on the company’s achievements, challenges and future direction in an exclusive interview to Mayank Singh.

- Mayank Singh

In 2017 Oman Oil Company completed 20 years of operations. As you look back, what have been the major milestones and challenges for the company?

Oman Oil Company (Oman Oil) is a state owned company, which was set up with a mission to diversify the national economy by creating value from hydrocarbon molecules. In addition, Oman Oil is also tasked to have a presence internationally by partnering or acquiring international assets in upstream, downstream and midstream. I am proud to say that over the last 20 years, Oman Oil has achieved most of what it desired both in terms of international presence and setting up projects to support the government mission to diversify the national economy. Almost 65 per cent of our investments are in Oman within the value chain of Oil and Gas sector. We have had challenges like being financially self-sufficient, but overall I am satisfied about our journey and I would like to thank those people in administration, running the various roles who participate in the growth of Oman Oil Company, as well as the previous board members and the Ministry of Finance for their steer and guidance.

What role is Oman Oil Company playing in ICV generation, promotion of national talent and SMEs development? 

The concept of In-Country Value (ICV) is really new when you think about it, but Oman Oil has been in the forefront in several areas when it comes to ICV. Let me break it down in terms of talent development, Oman Oil is proud that most of its senior management be it in the head office or in various companies, are all Omanis. We have set up a special purpose vehicle to train and develop Omanis by offering them scholarships, training opportunities etc. The company which is spearheading this initiative within the Oman Oil fold is Takatuf.