OOCEP supports LPG bottling plant project

Oman Oil Company Exploration and Production (OOCEP), Fund for Development of Youth Projects SAOC (Sharakah) and Bukha Development Company LLC, have signed a cooperation agreement to establish a Liquified Petroleum Gas (LPG) Bottling Plant in Musandam.

The signing ceremony was held under the patronage of Sayyid Khalifa bin al Mirdas al Busaidy, Governor of Musandam. As per the agreement, OOCEP will provide financial and administrative support for the 2500 sq m area project in Khasab, which is expected to conclude by the end of 2018.

Ashraf Hamed al Maamari, Corporate Affairs Director at OOCEP, Mohammed Darwish al Shehhi a Board Member at Bukha Development Company LLC and Abdullah al Jufaili, General- Manager of Sharakah, signed the agreement. On the sidelines, a Consultancy Agreement was signed between Sharakah and Bukha Development Company LLC.

Sayyid Khalifa bin al Mirdas al Busaidy, Governor of Musandam said, “Witnessing a collaboration that will serve as a growth factor for the Sultanate’s economy, delights all of us. The joint efforts of Oman Oil Company Exploration and Production and Sharakah to establish a project of such importance, will also aid in providing employment to the locals.”

The project aligns with OOCEP’S ongoing social commitment to develop and build the capacity of local communities whilst contributing to sustainable development and Oman’s socio-economic growth.

“We at OOCEP firmly believe projects such as the Musandam LPG Bottling Plant, reflect our commitment to supporting Incountry Value and promoting local investment opportunities. Therefore, we have adopted this project as part of our corporate social responsibility,” said Ashraf al Maamari, Corporate Affairs Director of OOCEP. “We will offer the venture with the required support to help realise its objectives and have provided a non-refundable grant to set the factory with the required equipment and technology,” he added.

Sharakah cooperated with OOCEP to provide financial and post financial services to Bukha Development Company LLC. The firm will monitor the plant’s operations, follow up and upkeep the project.

Additionally, Sharakah will guide Bukha Development Company LLC for a period of 12-months, to ensure that the company progresses and sustains. To achieve this, Sharakah will deploy its industry certified tools including Risk Assessment Tool (RAT), Financial Analysis Tool (FAT) and Business Performance Monitoring Tool (BPMT).