What sets Petrofac apart from other companies in Oman, giving it a competitive advantage?

Petrofac differentiates itself through its best-in-class delivery and high quality, consistently delivering projects to global standards. The company takes pride in successfully completing the majority of Oman’s key energy sector projects, working with major clients such as PDO, BP, OQ, and Oxy. Petrofac’s experience, efficiency, and commitment to excellence drive its ability to overcome challenges and complete projects to the highest standards. Moreover, Petrofac has extensive experience across upstream, midstream, and downstream operations, making it unique in its ability to cover all three streams of the oil and gas industry.

How does Petrofac contribute to In-Country Value (ICV) initiatives?

Petrofac goes beyond the typical ICV approach of investing in Oman and using local materials within the country. The company takes the services and materials from local manufacturers and small and medium-sized enterprises (SMEs) and utilizes them in its international projects. This innovative approach has allowed Petrofac to export local products and materials to different continents and countries, providing more than USD 175 million worth of services and goods to its international projects. Additionally, Petrofac actively invests in local communities, upgrading infrastructure, and supporting social causes such as hospitals and cyclone-affected families. The company also contributes to building Omani capabilities through its joint operation with Takatuf, the Takatuf Petrofac Oman (TPO) training center.

How does Petrofac approach sustainability and green practices?

Petrofac’s sustainability strategy is built upon three pillars: environmental, social, and governance (ESG). In terms of the environment, the company focuses on minimizing carbon footprints, both its own and its clients’. Petrofac has phased out single-use plastics across its permanent offices and is actively working to reduce them at operational sites. The company encourages SMEs to recycle and supports them in their efforts. Petrofac collaborates with local communities, sponsoring bins for beaches to prevent waste and protect the ecosystem. The company has set a specific target to reduce CO2 emissions and achieved a 24% reduction in global emissions in 2021. Petrofac aims to reach Net Zero in Scope 1 and 2 emissions by 2030. Education and awareness play a significant role, and Petrofac is engaging with Omani startups and partnering with universities to address sustainability challenges.

What are Petrofac’s main goals and growth priorities for the coming year?

Petrofac considers Oman a core market and aims for future growth, both with existing clients and new partners. The company remains focused on safely and effectively delivering key projects in the country. Another objective is to support urbanization and develop its Muscat office as a major hub for engineering, procurement, and construction services. Petrofac recognizes the growing importance of renewable energy sources and intends to deploy its engineering and project management expertise to support new energy infrastructure projects. By investing in Omanis and supporting their development, Petrofac aims to elevate its organization to even greater heights. Additionally, the company plans to partner with schools, universities, and NGOs to focus on sustainability, diversity and inclusion, and preparing the workforce for the energy transition.

You may also be interested in...