What strategies has Gulf Energy employed to be more competitive especially outside of Oman?
Gulf Energy built its strategies through internal commitments as basis, while structuring customer-based frameworks to meet each client's requirement individually. Alongside Gulf Energy's continuous work to adopt all compulsory international QHSE standards, we employ international industry standards as well as codes of practice that retain high levels of competitiveness within local and international companies. Performance enhancement has been employed to promote workforce skills quality by established comprehensive in-house standards and developed skillful capabilities in terms of competency trainings for the employees. We are focusing on maintaining performance track-records analysis and improving enriched experiences to the next challenging level, consequently enabling the organization to efficiently execute bids of Oil & Gas outside of Oman. Although Gulf energy has a multinational professional blend of experts, 90% of Gulf Energy's top-level management are Omani with international experience in leading oil and gas companies such as Schlumberger and Halliburton. We have dynamically embraced the sophisticated know-how and produced formulated capabilities and a competent environment. Being an Omani company with Omani leaders is a prestigious advantage for In Country Value (ICV) in the local market, especially within the few GCC companies that are working outside their original countries. We have a training department and our in-house QHSE training has been developed to allow us to work outside of Oman. We have a variety of nationalities with different experience across the board that work with us and give us guidance on QHSE training and the technical parts to allow us to move ahead and compete outside.
How have you managed to grow despite low oil prices?
Being a local company, our overhead is not that high compared to international companies. International companies need to pay a huge cost for their headquarters. The low oil price and adverse economical condition has been sustained by the advantage of recruiting local Omanis. We have adopted the same policy of localizing the recruitments and employment in the countries we operate in around the world. That gave us an advantage and added-value to overcome global economical crises and low oil prices.
What are your major targets for the coming years?
In terms of bringing in new business, we target expansion both locally and internationally by bringing new technology, in terms of drilling, enhanced oil recovery, and steam applications. Gulf Energy had a few joint ventures with technology owners to open a few facilities that will enable us to produce local branded products that can be labelled “made in Oman." In chemicals, we have a joint venture through which we are developing a factory in Sohar. There are a few things that are in the pipeline that will be executed within 18 months from now. Gulf Energy's growth has been the evidence for successful challenges and wise strategies.