(MENAFN- Muscat Daily) The oil and gas sector will have to play an increasingly prominent role in addressing some of Oman's most pressing challenges including creating greater in-country value (ICV) supporting the development of small and medium enterprises (SMEs) and fostering innovation and human development as part of a broader strategy to transform the country from a hydrocarbon-based economy into a sustainable knowledge-based one.
With oil and gas production accounting for about half of Oman's gross domestic product (GDP) the energy sector plays a crucial role not only as a source of government revenue but also as an employer of Omanis and a provider of knowhow and technology. Local and international oil and gas experts will debate ways of tackling the challenges the sultanate is confronted with at this year's Oman Energy Forum to be held in Muscat on October 21 under the theme 'Oman 2014: Global Ambitions Critical Local Challenges.'
'Given the oil and gas sector's size and weight in the local economy it will have to be at the forefront of tackling the challenges we are facing today and we're proud to be the title partner at the 2nd Gulf Intelligence Oman Energy Forum' said Eng Isam al Zadjali CEO of Oman Oil Co.
He added 'It is critical to address the issues of in country value (ICV) human capital innovation and SME with a sense of urgency as the country moves ahead with the implementation of its development plans.'
Oman's strategy for the oil and gas sector aims at empowering all aspects of the domestic oil and gas supply chain ranging from providing technical assistance and expertise to small-scale local manufacturers to training people for jobs in the energy sector while also ensuring that operators give back to the community he added.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.