Oman Oil signs key agreement with Oman LNG Development Foundation
MUSCAT: Oman Oil Company (OOC), the Sultanate’s investment arm in the energy and energy-related sectors, and Oman LNG Development Foundation have inked a memorandum of understanding (MoU) to enhance cooperation in areas related to corporate social responsibility (CSR) and sustainability.
According to a press release, the MoU involves a joint discussion for future CSR projects, as well as reaching a wider segment of its beneficiaries. It also entails providing opportunities to develop professional skills and boost expertise through assignments and job training, thereby enhancing professional staff working areas related to CSR. The agreement also envisages sharing best practices and experiences in the fields of sustainability and social investment.
Adopting best practices
“The signing of the MoU with Oman LNG Development Foundation comes in line with our interest in adopting best practices to implement sustainable programmes to serve the community. In addition, we intend to train and develop our employees through adopting necessary skills and best practices. Our vision is to integrate social responsibility for the benefit of society as well as to participate effectively in the economic and social development of the communities we are working in,” said Eng. Isam bin Saud Al Zadjali, CEO of OOC.
“Social investment orchestrates an integral part of Oman LNG’s business since its inception. It provides an opportunity for the company to give back to society from the revenues generated from the sale of LNG, thus resulting in achievements and recognition. To- day’s agreement aims to enhance the joint efforts of both parties for CSR, which will benefit the community and individuals who represent the end beneficiaries of our far-reached social investment programmes. With this, we contribute to the sustainable socio-economic fabric of the Sultanate. The agreement also sets new horizons for CSR in the Sultanate by sharing best practices and competencies in related areas. With the recent success Oman LNG Development Foundation accomplished, such agreements enhance the foundation’s progress in achieving its strategic objectives,” added Harib bin Abdullah Al Kitani, CEO of Oman LNG.
The ceremony was also attended by Sheikh Khalid bin Abdullah Al Massan, CEO of Oman LNG Development Foundation.
OOC and its group of companies work closely with world-class institutions to ensure sustainable CSR initiatives in line with the government’s social and economic development strategies. OOC intends to elevate sustainability patterns across the Sultanate and meet local communities’ requirements through CSR projects. It is committed to supporting sustainable programmes that benefit the community by focusing on three main mandates: training for employment, entrepreneurship and SME support, and capacity building.
Oman LNG Development Foundation addresses social development issues in Oman but in general comprises a community fund targeting initiatives related to the Sur Community, where its worldclass plant is located. The national fund covers a large swath of the company’s social development programmes across the nation and a reserve fund to address the sustainability and continuity of the company’s CSR programmes.