Oman LNG is all set to establish a Development Foundation following approval from the Ministry of Social Development. The purpose of Oman LNG Development Foundation is to ensure the sustainability of Oman LNG’s successful and extensive Social Investment Programme (SIP) that is funded by its shareholders dedication of 1.5 per cent of the company’s annual net income after tax (NIAT).
With the approval, all the company’s social investment activities will, in future, be channelled through the newly established “Oman LNG Development Foundation”. These activities which focus on the key strategic areas of Empowering Communities, Championing Innovation and Investing-in-People cover a broad-scope of areas that aid the growth and development of Oman’s socio-economic infrastructure.
“We are really pleased with the announcement by the Ministry of Social Development that the establishment of the Oman LNG Foundation has won approval,” said Dr Brian Buckley, General Manager and CEO of Oman LNG. “The Foundation will improve our company’s focus and the impact of our engagement in the growth and development of Oman’s socio-economic infrastructure through our diverse initiatives such as training-into-employment, supporting entrepreneurship and small-to-medium enterprises, environmental conservation and community development.
“Also important, it will ensure the long-term sustainability of our programmes.” Buckley added. In the last decade, Oman LNG has devoted over $35 million to a wide-range of programmes, including national and community infrastructure, pioneer initiatives in health and education, environmental conservation and supporting the Sultanate’s drive for job creation by placing over 1,000 Omanis into employment in occupations outside the country’s oil and gas sector.
In 2010, the company was honoured by the Council of Ministers for Social Affairs in the GCC as the Best Company in Corporate Social Responsibility in Oman. Oman LNG operates three-train LNG production and export facility at Qalhat Sur, with a 10.4 million metric tonnes per annum capacity. One of the trains is operated and maintained on behalf of Qalhat LNG.