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Satyendra Pathak
Doha
Prime Minister and Minister of Interior HE Sheikh Abdullah bin Nasser bin Khalifa al Thani on Monday launched Qatar Petroleum’s localisation programme ‘Tawteen’ to raise the share of local firms in the country’s energy sector supply chain from the current 15 percent to 40 percent in the next five years.
As an initiative to enhance localisation of services and industries in the energy sector and expand the small and medium enterprises base in the country, the PM also launched its electronic website, which will act as an important link to the various components of the energy sector’s supply chain.
Delivering a speech on the occasion, Minister of State for Energy Affairs, President and CEO of Qatar Petroleum HE Saad Sherida al Kaabi said Qatar expected to save about QR9 billion a year through import substitution once ‘Tawteen’ is fully implemented in the country.
“The programme would provide local alternatives to imports worth up to QR9 billion, which would raise the country’s GDP by about 1.6 percent,” Kaabi said.
To be implemented in two stages, the minister said, as many as 100 new investment opportunities would be created in the energy sector during the first part of the initiative.
“Qatar Petroleum and its companies will offer incentives and offtake guarantees according to the programme’s guidelines towards this effort,” he said.
“The second part would be an in-country value policy, which would reward suppliers and contractors that execute their contracts and agreements by maximising local content,” he said.
Initiating the process of boosting the local energy sector, Qatar Petroleum signed preliminary deals worth more than QR9 billion ($2.47 billion) with oil services firms Schlumberger and Baker Hughes on the sidelines of the launch ceremony.
Qatar Petroleum and Baker Hughes, a GE company, signed a memorandum of understanding designed to help create new opportunities to expand its presence in Qatar.
The agreement would help strengthen the oil and gas supply chain in Qatar and boost the skills of Qatari talent.
QP also signed a memorandum of understanding with Schlumberger to expand its current operations in Zekreet, open a new integrated base facility in Ras Laffan by the end of 2019, and establish a center of efficiency in the Free Zone to be used as a regional maintenance center.
Another oil services firm McDermott signed a joint venture deal with Nakilat to form a joint-venture company providing offshore and onshore fabrication services in Qatar.
The new company will help increase productivity levels at Nakilat’s Erhama Bin Jaber Al Jalahma Shipyard and developing local construction capabilities to meet the increasing demand for the construction of offshore and onshore structures.
This project will provide a range of new services that will support the construction, maintenance, repair and refurbishment of offshore and onshore structures, and all types of vessels.
“As part of our national duty to develop the industry in Qatar and to promote self-reliance, we saw the need to localise many of the supporting industries in the sector,” Kaabi said after signing of the deals.
The preliminary agreements would involve investment in production facilities, training and development, Kaabi said.
“This will give an important momentum to the programme’s objectives, which target adding QR15 billion of in-country economic investment value to the local economy, that reflects investor confidence in the Qatari economy,” Kaabi said.Move aims to raise share of local firms in supply chain to 40% ? QP inks deals worth $2.47 billion
Doha
Prime Minister and Minister of Interior HE Sheikh Abdullah bin Nasser bin Khalifa al Thani on Monday launched Qatar Petroleum’s localisation programme ‘Tawteen’ to raise the share of local firms in the country’s energy sector supply chain from the current 15 percent to 40 percent in the next five years.
As an initiative to enhance localisation of services and industries in the energy sector and expand the small and medium enterprises base in the country, the PM also launched its electronic website, which will act as an important link to the various components of the energy sector’s supply chain.
Delivering a speech on the occasion, Minister of State for Energy Affairs, President and CEO of Qatar Petroleum HE Saad Sherida al Kaabi said Qatar expected to save about QR9 billion a year through import substitution once ‘Tawteen’ is fully implemented in the country.
“The programme would provide local alternatives to imports worth up to QR9 billion, which would raise the country’s GDP by about 1.6 percent,” Kaabi said.
To be implemented in two stages, the minister said, as many as 100 new investment opportunities would be created in the energy sector during the first part of the initiative.
“Qatar Petroleum and its companies will offer incentives and offtake guarantees according to the programme’s guidelines towards this effort,” he said.
“The second part would be an in-country value policy, which would reward suppliers and contractors that execute their contracts and agreements by maximising local content,” he said.
Initiating the process of boosting the local energy sector, Qatar Petroleum signed preliminary deals worth more than QR9 billion ($2.47 billion) with oil services firms Schlumberger and Baker Hughes on the sidelines of the launch ceremony.
Qatar Petroleum and Baker Hughes, a GE company, signed a memorandum of understanding designed to help create new opportunities to expand its presence in Qatar.
The agreement would help strengthen the oil and gas supply chain in Qatar and boost the skills of Qatari talent.
QP also signed a memorandum of understanding with Schlumberger to expand its current operations in Zekreet, open a new integrated base facility in Ras Laffan by the end of 2019, and establish a center of efficiency in the Free Zone to be used as a regional maintenance center.
Another oil services firm McDermott signed a joint venture deal with Nakilat to form a joint-venture company providing offshore and onshore fabrication services in Qatar.
The new company will help increase productivity levels at Nakilat’s Erhama Bin Jaber Al Jalahma Shipyard and developing local construction capabilities to meet the increasing demand for the construction of offshore and onshore structures.
This project will provide a range of new services that will support the construction, maintenance, repair and refurbishment of offshore and onshore structures, and all types of vessels.
“As part of our national duty to develop the industry in Qatar and to promote self-reliance, we saw the need to localise many of the supporting industries in the sector,” Kaabi said after signing of the deals.
The preliminary agreements would involve investment in production facilities, training and development, Kaabi said.
“This will give an important momentum to the programme’s objectives, which target adding QR15 billion of in-country economic investment value to the local economy, that reflects investor confidence in the Qatari economy,” Kaabi said.Move aims to raise share of local firms in supply chain to 40% ? QP inks deals worth $2.47 billion
