Muscat: OQ, in collaboration with its partners, has allocated a staggering $2.825 billion towards bolstering local businesses and services in the Sultanate of Oman, particularly focusing on the Al Wusta Governorate. This investment isn’t just about financial figures but reflects a comprehensive approach aimed at maximizing local value addition and creating sustainable economic activities across various sectors.

A notable example of this commitment is the Duqm Refinery, a joint venture between OQ and Kuwait Petroleum International. During its construction phases, the refinery poured $2.534 billion into goods and services, with a substantial portion directed towards small and medium enterprises (SMEs). Moreover, the refinery has pledged to allocate 10% of its construction work to SMEs, with a dedicated focus on those operating within Al Wusta. This deliberate effort is geared towards catalyzing local development and job creation.

Furthermore, OQ’s dedication extends beyond financial investments. The company has earmarked over $5.4 million for social projects, with an emphasis on education, health, and environmental preservation. Initiatives like the “Refinery Sciences” program and English language development initiatives exemplify OQ’s holistic approach towards fostering talent and enhancing skills among local communities.

Additionally, OQ’s partnership with the Ministry of Health underscores its commitment to improving healthcare infrastructure in the region. A recent agreement to fund the emergency and accident unit in Duqm reflects OQ’s efforts to support essential services and enhance societal well-being.

Marafiq, a joint venture between OQ and Gulf Energy Development, is another cornerstone in OQ’s strategy, contributing significantly to the local economy and Omanization efforts. Through utility services and training programs, Marafiq is nurturing Omani talent and driving value-added projects in key sectors.