PDO to boost In-Country Value spend to $3 bn

Petroleum Development Oman (PDO) has pledged to increase its total spend on In-Country Value (ICV) initiatives to $3 billion by the year 2020.

Raoul Restucci, Managing Director, said the majority government-owned oil and gas firm is committed to procuring $100 million worth of Omani goods and services every year through to 2010.

Restucci was speaking at the SME Exhibition & Conference, which opened at the Oman International Exhibition Centre yesterday. “ICV is a long-term journey but the strategic investment of today’s oil and gas revenues has helped support a sustainable industry for the future with PDO on target to spend $100 million of Omani goods and services year on year up to 2020 and to increase ICV spend to $3 billion,” the Managing Director.    

Read more: http://www.gulfbase.com/news/pdo-to-boost-in-country-value-spend-to-3-bn/229055