MUSCAT, APRIL 24
Amidst the backdrop of the Oman Petroleum and Energy Show (OPES) 2024, Eng Salim al Aufi, Oman’s Minister of Energy and Minerals, in a video message, highlighted the enduring significance of the oil and gas industry despite the ongoing global energy transition. The event took place on Monday at the Oman Convention and Exhibition Centre, gathering key stakeholders and industry professionals.
Eng Salim al Aufi underscored the undeniable importance of oil and gas as integral components of the global energy mix for the foreseeable future. Despite the growing emphasis on renewable energy sources like hydrogen, the Minister emphasised that forecasts from leading international agencies such as the IEA, OPEC, and IHS consistently project the continued relevance of oil and gas. He stressed that the energy industry must maintain its momentum and not veer off the path of progress.
Moreover, Al Aufi pointed out the indispensable role of oil and gas in supporting the petrochemical sector, which forms the backbone of numerous everyday products. He emphasized that petrochemicals, derived from hydrocarbons, are essential for the production of various goods ranging from plastics to textiles. Highlighting the pervasive presence of petrochemicals in our daily lives, he illustrated how integral these materials are to modern society.
The Minister's speech delved into the economic significance of the oil and gas industry for Oman, revealing that it currently accounts for a substantial portion of the country's GDP, approximately 70 to 72 per cent. This underscores the pivotal role that the sector plays in driving economic growth and stability within Oman. Furthermore, Al Aufi highlighted the sector's contribution to national employment, particularly for the youth, with a strong focus on Omanisation efforts to empower local talent.
Al Aufi also shed light on the expanding international recognition of Omani service providers within the oil and gas industry, signaling a positive trend towards global competitiveness. He emphasised the importance of nurturing local companies to broaden their horizons beyond national borders, thus enhancing the sector's overall capacity and reach.
Lastly, in a reflection on corporate social responsibility (CSR), Al Aufi lauded the industry for its unwavering commitment to community-centric initiatives that transcend economic boundaries. From grassroots endeavours to government-led collaborations, these CSR endeavours epitomise the oil and gas sector’s holistic approach to societal development, touching lives and fostering well-being across diverse segments of Omani society.
Oman Observer is now on the WhatsApp channel. Click here
