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Benchmark for Oman's Business Colours of Celebration a New June 2013 Al Ghanjah Benchmark for A New Dawn Colours Oman’s Business for Science of Celebration i Printed on recycled paper tourism, delivery of medical care, environment, etc., — that is aligning with the Government of Oman’s efforts at establishing a progressive country that citizens can Foreword by the be proud of. Chief Executive Officer Our premier position as a model company was confirmed recently when the World Finance, after a series of intense scrutiny, first by its readers and later by an international jury, named Oman LNG the Best Company in Corporate Governance in the Sultanate for 2013. We have thus became the first company in Oman to earn this prestigious honour. These many achievements, rather than cause us to be complacent, should challenge us not only to maintain our current successes but look to break new grounds where we can add even greater value. Our successes should call us to higher standards of stewardship so that Oman LNG remains a reference point within Oman and around the world of how a good business is superbly managed. In this new issue of Al Ghanjah, I am happy to share with you the highlights of the festivities we held earlier in the year, and an article that elaborates a little more Dear Colleagues, on the benefits of LNG to the country. The celebrations in the first quarter of this year were an Have a pleasant read. important way to share with our various stakeholders the great success that the Oman LNG project has come Harib Al Kitani to be associated with: its contributions as a reliable Chief Executive Officer supplier of a clean fuel to the world and a dedicated partner in shaping the continued progress of Oman. Indeed, our company has become known for a range of accomplishments on many fronts of the business. CONTENTS In terms of profits, for instance, our company has often times exceeded in a single year of operations, the amount invested by all its shareholders in building a Company News 2 world-class plant for the production and export of liquefied natural gas. Benchmark for Oman’s Business 7 And these profits have allowed us to make a number of meaningful investments including the development A New Dawn for Science 9 of our staff where, for this year, we have earmarked over OMR 2m towards growing the competency of our employees, of which some 90% are Omani nationals. Celebrating the Benefits of LNG 12 Proceeds from the sale of liquefied natural gas have How we prepared for Oman LNG Day 16 also funded the growth of a large portfolio of social investment projects spread across Oman’s entire landscape — in fields like education, entrepreneurship, Colours of Celebration 19 Al Ghanjah is produced quarterly by Oman LNG L.L.C. General Supervision: Mohammed Abdullah Al Sharji. For enquiries, please contact: Head of Communications, Issues and Crisis Management, Oman LNG, P.O. Box 560, Muscat 116, Sultanate of Oman. Printed on recycled paper Corporate governance refers to utilisation of an established mechanism of procedures and policies that are fair and consistent across stakeholders of a business concern, and which working together, promote COMPANY NEWS transparency, assure ethics and facilitate the application of due process to ensure the long-term sustainability of an organisation. To earn the World Finance’s Corporate Governance Award for 2013, Oman LNG was vetted by the publication’s over one hundred thousand readers, many of whom nominated it as one of the companies deserving of the honour. RECOGNISED FOR The World Finance Award Selection Panel then subjected CORPORATE GOVERNANCE the selected organisations to deeper scrutiny, using a set of criteria including “overview of governance structure; committees and their quorum; leadership and Attesting to the company’s high degree of transparency, board composition; role, term and liability of directors, thorough standards of accountability and use of disclosure and transparency” to determine the eventual independently verifiable audits for business transactions winner of its corporate governance award. with its various stakeholders, the World Finance has adjudged Oman LNG as the Best Company in Corporate Governance in the Sultanate for 2013. OMAN LNG CLOCKS ONE The Award makes Oman LNG, Oman’s primary producer THOUSAND LTI-FREE DAYS and exporter of liquefied natural gas (LNG), the first company in the country ever to win the World Finance’s prestigious recognition for an exemplary corporate With safety as the centre-piece of its operations, Oman governance practice. LNG has announced a milestone achievement of one thousand days without Lost-Time Injury (LTI). The new record translates to over seven million, one hundred and fifty thousand man-hours (7.15million man-hours) or almost three complete calendar years without casualty to any of its personnel. This signposts the company’s continuing vigorous attention to the safety and health of employees and contractors, after it crossed the five million man-hours mark in May last year. Lost-Time Injury (LTI) is used as a measure of safety in the workplace and generally refers to a work-related injury 2 or illness that occurs when a person is injured during the execution of his/her duties and as a result, that individual is unable to work on a subsequent scheduled work day FASHION EXHIBITION or shift. SHOWCASES SME The nature of the global energy industry, with INVESTMENT VALUE key operations and functions, often requiring the performance of delicate tasks which involve the handling of heavy machinery and chemicals by personnel, have In a fashion exhibition held in Sur, one of South Sharqiyah’s placed increasing emphasis on the need for safety and major towns, forty-eight ladies who were assisted by due care in the workplace to safeguard lives. Oman LNG to start a tailoring workshop in Qalhat will display their wares—various kinds of colourful, finely Besides normal day-to-day functions, operators in the embroidered dresses—to prospective buyers, aiming to industry often contend with periods of intense activities consummate sales. at their work sites geared towards maintaining efficiency and keeping production outputs stable in meeting the “We are showcasing different types of clothes, mainly for world’s demand for energy. women and children. All the clothes were made at our own workshop in Qalhat,” said Salima Al Shoibai who powered boats to fishermen in the coastal city and its manages the Qalhat Ladies Tailoring Workshop that surrounding towns, thus empowering fishermen to earn produced the articles of clothing. higher incomes and supporting the further growth of a thriving commercial endeavour. Only a fortnight ago, His Majesty Sultan Qaboos, issued a Royal Decree, establishing the OMR 70 million Details of the newly signed pact show plans by Oman Al Rafd Fund that targets the development of small and LNG to fund the supply of over five dozen boats, each medium scale enterprises. measuring 23 foot-long with a 75 horse-power capacity engine to fishermen communities in Sur, Ras Al Had, Tiwi, The fund, to be increased annually by OMR 7 million, Qalhat, Al Bar and Al Ghalilah. will help many Omani youths in realising the ambition of running their own businesses. To familiarise them with the nuts and bolts of running a sound business, a group of twelve from among the OMAN LNG FUNDS RESEARCH women, received further tutorials in management. LAB, VESSEL ACQUISITION In two agreements signed recently, Oman LNG will BOATS SUPPLY to PROPEL support capacity building at a couple of institutions of SUR FISHING ECONOMY learning in the Sultanate by way of providing funds to equip a science research laboratory, and acquire a fishing vessel for training fishermen. The fishing economy in Sur and its neighbouring locations is poised to trawl in a larger fish net, positively impacting fishermen’s income and increasing the agriculture sector’s overall contribution to the Sultanate’s gross domestic product (GDP). In the first agreement, the company will earmark up to sixty eight thousand, eight hundred and twenty- six Omani rials (OMR 68,826) towards procuring vital equipment for establishing a modern oil and gas laboratory at the Nizwa College of Technology. This positive outlook follows from a new agreement forged between Oman LNG and the Ministry of Oman LNG’s funding support is a total of two hundred Agriculture and Fisheries, designed to provide engine- and seventy-eight thousand, eight hundred rials 4 (OMR 278,800) estimated by the College as needed pre-school learning interaction for children and other for the acquisition of various tools it requires educational social programmes for the women. in the laboratory. “In the past when we asked people in the community Some of the pieces of equipment the College intends why they didn’t bring their children for pre- to purchase for its oil and gas research facility include school classes, they would normally say they had a liquid viscosity meter, a rotary drilling rig model, transportation problems,” said Mrs. Amera Al Farsi, centrifugal pump, piston pump, scanning electron President of the Omani Women’s Association (OWA) in microscope and a well-bore hydraulic demonstrator, Masirah, “but with this bus, we will be able to solve that among others. issue definitively.” In the second agreement, Oman LNG will be contributing some one hundred thousand rials (OMR 100,000) for the purchase a fishing vessel that will be used for training young Omanis at Salalah’s Fishermen Training Institute. ALI HAMEED WINS OMAN LNG NATIONAL GOLF CHAMPIONSHIP After two days of intense golfing competition with PACT EASES TRANSPORTATION a full field of a hundred and twenty players participating, WORRIES FOR OWA MASIRAH Ali Hameed, has emerged as this year’s winner of the Oman LNG sponsored 38th National Golf Championship.
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