OQ Gas Networks (OQGN), the leading operator of Oman’s natural gas transmission network, has recently announced the execution of several important projects aimed at enhancing gas transmission to the Wilayats of Sohar and Duqm. These projects also include an expansion of the network in pipelines to transmit gas to the Wilayat of Sur, with a total cost of OMR150 million. Mansour Al Abdali, the Chief Executive Officer of OQGN, highlighted that the company is currently working on various projects in multiple wilayats and is exploring opportunities in Sohar and Duqm. Additionally, a strategic project in North Oman is in the pipeline and expected to be rolled out soon.
Al Abdali disclosed that OQGN reported profits of OMR28 million in the first half of 2024, indicating a strong financial performance for the company. The Saib Project, which was recently inaugurated in the Dhofar Governorate, is deemed as a critical project for the region. This project is expected to significantly contribute to energy projects in Dhofar, thereby fostering economic and social development in the area. The project is also boosting the In-Country Value (ICV) by OMR11 million, demonstrating OQGN’s commitment to supporting local businesses and communities. Moreover, the Saib Project has created job opportunities for over 300 Omani youth, further underscoring the company’s dedication to empowering local talent and driving sustainable growth.
The execution of these projects underscores OQGN’s commitment to enhancing Oman’s gas transmission network and supporting the country’s energy infrastructure. By investing in the expansion of gas transmission to key regions like Sohar, Duqm, and Sur, the company is not only improving access to natural gas but also driving economic growth and development in these areas. The strategic project in North Oman is set to further bolster the country’s energy capabilities, positioning Oman as a key player in the regional energy landscape. With a strong financial performance in the first half of 2024, OQGN is well-equipped to continue its growth trajectory and deliver value to stakeholders.
OQGN’s focus on local development and the creation of job opportunities for Omani youth through projects like the Saib Project highlights the company’s commitment to fostering sustainable growth and social impact. By investing in projects that not only benefit Oman’s energy sector but also contribute to the local economy and community development, OQGN is setting a benchmark for responsible corporate citizenship. With a track record of successful project execution and a strong financial performance, OQGN is poised to play a pivotal role in Oman’s energy landscape, driving innovation, growth, and societal development for years to come.
In conclusion, OQ Gas Networks’ recent announcement of key projects in Oman’s gas transmission network highlights the company’s commitment to driving growth, innovation, and social impact in the country. By investing in critical infrastructure projects in regions like Sohar, Duqm, Sur, and North Oman, OQGN is not only enhancing access to natural gas but also fostering economic development and creating job opportunities for local communities. With a strong financial performance and a focus on local value creation, OQGN is well-positioned to continue its leadership role in Oman’s energy sector and contribute to the country’s sustainable development goals.
