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Cover concept
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MARKETING
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CORPORATE
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A sustainable future
The Sultanate is rapidly positioning itself to become one of the largest exporters of low-carbon hydrogen by 2030. It is ramping up efforts to build a full-fledged ecosystem that capitalises on its strategic position and unlimited potential to become a rising global hub on the green hydrogen map.
Oman has also reiterated its commitment to support international efforts to cut down carbon emissions, alleviate the negative effects of climate change and implement a plan for energy transition and decarbonisation with investments of more than $190bn by 2050.
Oman’s energy sector is undergoing a significant transformation, driven by the government’s focus on diversifying its energy sources and enhancing the efficiency of its infrastructure, according to a new report. “The growing emphasis on renewable energy, energy efficiency, and alternative energy sources, such as nuclear power and hydrogen, is expected to reshape the country’s energy landscape in the coming years,” the London-based EnergyPortal.eu said in its report titled ‘Oman’s Energy Market: Key Trends and Future Outlook’. The report further said that addressing the challenges of investment, human capital development, and regulatory support will be crucial for the successful realisation of Oman’s energy sector goals. The country’s energy sector is primarily driven by oil and gas production, which has been the backbone of its economy for decades, the report said.
Oman’s visionary plans for the green hydrogen economy, coupled with the concurrent development of supportive infrastructure, will create avenues for various industries to adopt environmentally friendly production methods. Through several initiatives, Oman aims to become one of the world’s leading green hydrogen producers, making it an appealing destination for foreign industrial investments seeking to transition toward clean energy.
OommenJohn Oommen John
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NURTURING TALENT
Your July cover story on ‘100 Most Influential CEOs in Oman,’ made for an interesting read. Sixty-two percent of CEO’s selected growth as their top business priority in 2024, according to a new survey by Gartner, Inc. This is the highest level since 2014, and an increase from last year’s survey where 49 per cent of CEOs said their top business priority was growth. When asked about digital transformation, 34 per cent of CEOs identified AI as the top theme of the next business transformation after digital, followed by operations efficiency at 9 per cent. CEOs are not deterred by any negative prospects around AI, as 87 per cent of CEOs agreed that the benefits of AI to their business outweigh its risks. Another 90 per cent of CEOs agreed the idea that AI is an existential threat to humanity is hype and exaggeration. However, CEOs are not approaching AI with an entirely positive outlook. Fifty-six percent of CEOs said disinformation, misinformation and deep fakes will create operating problems. Twenty-nine percent see constrained electricity supply and 53 per cent see general supply chain issues as a problem, in large part due to GenAI and the demand the technology creates.
The CEOs are the one’s shaping the future of their respective companies. According to a recent survey by Heidrick & Struggles, about 29 per cent of Middle East CEOs and board members surveyed were concerned about attracting the right leadership candidates, followed by developing and retaining them as their biggest challenge compared to the global average of 24 per cent. Similarly, 22 per cent of these candidates see leadership succession and turnover as their chief concern compared to 17 per cent globally. Leadership development is very essential to enable youth to acquire the skills and confidence needed to become influential leaders and take the country to greater heights in the years ahead.
Kevin Richards,
MQ
PROMISING GROWTH
The 2024 Economic Impact Research of World Travel and Tourism Council (WTTC) has unveiled a very promising future for Oman’s travel and tourism sector. With strong government support and strategic initiatives, the sector is poised to not only recover but show unprecedented growth. In 2023, the travel and tourism sector’s contribution to GDP increased by almost 35 per cent, totalling RO2.8bn, on track to surpass previous records. The sector witnessed robust job growth of 15 per cent, now employing 191,500 individuals nationwide. The global tourism body is forecasting the sector will grow its GDP contribution to more than RO3.3bn in 2024 – or 7.6 per cent of the country’s economy – and employ more than 206,000 individuals across the country, with one in 14 people working in the sector. Last year, international visitors injected RO1.1bn into the economy, a remarkable 69 per cent increase from 2022, while spending by domestic travellers rebounded to RO1.4bn. Domestic visitor spending is predicted to continue growing, to reach RO1.5bn, beating the 2019 level by just over 8 per cent.
Abdul Hameed, Ghubra
TOWARDS A SUSTAINABLE FUTURE
Oman has set ambitious plans for its energy transition journey, aligning with the Vision 2040 framework
18 LOGISTICS A KEY ECONOMIC ENABLER
Eng. Ahmed Akaak, Acting CEO, Special Economic Zone at Duqm talks about the business opportunities within SEZAD, incentives on offer and the enabling environment of Oman
INVEST IN GENNEXT
Hussain Al Maimani, Sales Director, GBM Oman shares insights on his professional journey and
TECHNOLOGY OMAN’S DIGITAL LEAP
Eng. Maqbool Al Wahaibi, CEO, Oman Data Park shares details on the company’s contribution to Oman’s energy transition journey
Nikkei closes with largest point drop in history
The Nikkei stock index closed at its largest single-day point drop in history on August 5, tumbling over 4,400 points and down over 12 per cent, hit by concerns over a US recession and a firming yen
Oil futures rebounds over $1 after 7-week low
Oil futures experienced a notable rebound today, recovering more than $1 a barrel from their seven-week lows, marking a positive shift in the market sentiment
Muscat Municipality wins award for Best Application of Statistical Quality Research
Muscat Municipality has been presented with the Best Application for Statistical Quality Research award at the Third Forum of the National System for Institutional Innovation and Change Management. The forum, organised by the Ministry of Labour, is a key initiative under Oman Vision 2040, aimed at enhancing government performance and improving the quality of services across the state’s administrative apparatus. The awards ceremony was held under the auspices of HE Ahmed bin Saleh bin Sufyan Al Rashidi, Undersecretary of the Ministry of Endowments and Religious Affairs, at the St. Regis Al Mouj Hotel. It was also attended by other dignitaries and members of the system
winning entry. Al-Kindi applied statistical quality research to an administrative process within the Marketing and Investor Relations Department, measuring the completion rate of tasks within a specific timeframe using the DMAIC methodology. This approach focused on achieving continuous improvement in administrative processes and preventing the recurrence of errors.
HE Ahmed bin Mohammed Al-Humaidi, President of Muscat Municipality, expressed his pride in the achievement, stating: “We are honoured that Muscat Municipality has been recognised with this award for the best application of statistical quality research.
fit for expanding the brand’s operations in the Middle East. This partnership aims to deliver world-class service to INFINITI customers throughout the Sultanate, upholding the brand’s values of excellence. It aligns with INFINITI’s commitment to providing modern Japanese luxury experiences for individuals who seek distinction in their lives, styles, and vehicles.
their support, we are poised to elevate the INFINITI brand to new heights, setting the standard for Japanese luxury in Oman.”
Albert Khreiche, Managing Director, INFINITI Middle East, said, “At INFINITI, we pride ourselves on customer-centricity and a seamless service offering. With Al Hashar Automotive as a partner in Oman, we can
for INFINITI in Oman. Our customer-centric approach will drive our vision for INFINITI in this market, supporting our long-term goal of becoming the leading automotive business in Oman.” This collaboration ensures that customers in Oman are provided with continuity in their access to exceptional standards of luxury and a best-in-class customer journey.
Ooredoo and Tech Mahindra strengthen partnership to excel in digital customer experience
Ooredoo has taken a successful leap forward in its multi-phased mega transformation program, by advancing its Digital Transformation journey and upgrading their digital customer experience. By teaming up with Tech Mahindra, a leading global provider of technology consulting and digital solutions to enterprises across industries, Ooredoo has revamped and digitised their CRM stack. Together, with unification and digitisation of charging, rating and billing systems the CSI revamp and transformation, Ooredoo is able to provide a unified and state-of-theart digital experience across the nation.
transformation and revamping of the Ooredoo CRM stack for B2C fixed line customers and ultimately the B2B segment.
“We are thrilled to have partnered with Tech Mahindra for these transformation initiatives” said Dr. Ahmed Al Abri, CTIO at Ooredoo. “This successful implementation under stringent timelines has laid the foundation for the next stages of Ooredoo’s digital transformation; a program which both simplifies and modernises the entire Ooredoo IT stack. It also provides a solid and dynamic IT platform to cater
the Modern College of Business and Science. The insightful session, led by Tahani Al Alawi, Deputy Manager of Sustainability and CSR at Bank Nizwa, emphasised the importance of adopting sustainable practices within the educational system to instill values of environmental consciousness and community care among students. Mohammed Al Sajari, Head of Sharia Structure at Bank Nizwa, further enriched the workshop with his
by Dr. Moosa Al Kindi, Dean of the Modern College of Business and Science, as well as employees of the college, and staff from various educational institutions across the region, reflecting a collective commitment to sustainability. The event provided a platform for attendees to exchange ideas, discuss challenges, and explore innovative solutions for sustainability in the education sector. Commenting on the occasion, Ahmed
serve. It is crucial for educational institutions to implement sustainable practices within their processes and impart this knowledge to younger generations, preparing them to be agents of change. Through these sessions, we seek to raise awareness about the multifaceted nature of a truly sustainable future, highlighting the enduring impact our actions today will have on the environment, the community, and the nation’s socio-economic health of tomorrow.”
ahlibank announces new batch of its HIMAM program
As part of its goals to empower Omani youth through knowledge-intensive development programs, ahlibank has opened its doors for the 10th batch of graduates in its flagship program, HIMAM. Through this unique program, the bank aims to develop the skills of the participants and refine their abilities, empowering them to achieve professional success in the banking sector. The HIMAM development program has been highly successful since its inception, as it has enabled Omani youth with the needed skills to begin professional careers in the banking sector.
Since its launch in 2015, the HIMAM program at ahlibank has successfully employed many of its graduates. It is worth mentioning that applicants for this program undergo rigorous testing criteria and measures that qualify
meticulously designed to ensure the selection of the most competent graduates in the job market. These tests and interviews aim to comprehensively and fairly evaluate the technical and soft skills of the applicants.
The HIMAM program aims to develop the administrative and leadership skills of young individuals. Through professional training courses and guidance, the HIMAM program enhances the graduates’ skills in banking, with the assistance of managers, trainers, and specialists in the field.
The program also boosts the graduates’ self-confidence and focuses on the essential requirements for employment in the market. ahlibank launched the HIMAM program in 2015, and since then, it has been able to train a large number of ambitious Omani youth.
Graduates enrolled in the HIMAM program have been able to embark on successful professional careers, qualifying them for significant positions and roles in various banking sectors.
NBO offers credit card cashback and discounts at Oman Oil Marketing Company
In its ongoing endeavour to deliver greater value to its loyal customers, National Bank of Oman (NBO) has launched an exclusive campaign in partnership with Oman Oil Marketing Company, running from August 1- 31, 2024. During this special one-month campaign, all NBO credit card customers will enjoy a 20 per cent cashback on their first transaction at Oman Oil along with a 20 per cent discount on hot and cold beverages at Café Amazon. This initiative underscores NBO’s commitment to delivering exceptional value and rewards to its customers.
Maha Al Raisi, Assistant General Manager and Head of Retail Products at NBO, said: “At National Bank of Oman, we are always looking for ways to provide added value and rewards to our customers. We are delighted to partner with Oman Oil Marketing Company for this exclusive campaign. This campaign offers tangible benefits such as significant cashback rewards and attractive
Al Madina Insurance Company wins ‘Brand Leadership’ award at CMO Asia Award ceremony
we do, and this recognition illustrates the progress we have made over the years towards fulfilling our aim to be the best in the insurance sector.” Shakaib Mahmood, Deputy CEO, added, “Receiving this award reflects our commitment to observing the highest standards in all aspects of our operations.”
Al Madina Takaful’s win is attributed to its exceptional performance in various aspects of the insurance industry. The company offers a comprehensive range of Shariacompliant insurance products to both retail and corporate clients. Its wide product portfolio includes General, Life, and Health Takaful products, covering areas such as Motor, Travel, Home, Domestic Workers, Pleasure Craft, Fire, Engineering, Energy, Aviation, Liability, General Accident, and Marine Cargo Insurance. These products are served through an extensive network of branches, kiosks, and agencies. Al Madina Takaful distinguishes itself through professionalism, integrity, exceptional services, and commitment to its customers and all stakeholders.
Alizz Islamic Bank recently hosted international motivational speaker Manoj Anchan to conduct a course on the ancient Japanese framework ‘IKIGAI’ for the bank employees. The term ‘IKIGAI’ is formed from two Japanese words: iki (meaning ‘alive›) and kai (meaning ‘effect’) to translate to Purpose of happiness’. It is a framework for finding purpose in life. The philosophy combines four fundamental components that represent passion, profession, mission and vocation. This is where passion, skills, societal contributions and financial rewards align. By identifying ‘IKIGAI’ the individual can find a deeper sense of meaning and satisfaction in both life and work.
Anchan is a renowned motivational speaker, purpose researcher and a happiness advocate. He studied happiness concepts namely Ikigai from Japan, Hygge from Denmark, Lagom from Sweden, Sisu from Finland and the Gross National Happiness from Bhutan. Passionate about bringing out a positive change in society through happiness, he launched HQGPL, a venture promoting mental health, well-being and happiness. He is a Gross Global Happiness Summit Presenter, board member of the startup school Indus Bangalore international as their mentor, a part of the education committee of the IMC Chamber of Commerce and an adjunct
Speaking about the session, Sumaya Al Nabhani, Head of Learning & Development at Alizz Islamic Bank said “At Alizz Islamic Bank - employee wellbeing is of utmost priority which is why we believe in educating them on the best global practices with regards to work life balance. We are honoured to have hosted Manoj and to have such an esteemed speaker touch upon the importance of people pursuing their passion, focusing on the strength of professional skills, contributing and helping others are all considered key to success and happiness.”
BankDhofar seeks opportunities to invest and capitalise on the power of artificial intelligence systems
BankDhofar seeks to adopt artificial intelligence systems and integrate financial technologies into its services to provide an enriching and cost-efficient customer experience to ensure that it remains at the forefront of the banking services sector.
Dr.Tariq Saleh Taha, Chief Information Officer at Bank Dhofar said: “Technology has brought about a major change in the framework of the banking sector and in various financial institutions, and has even contributed to increasing the intensity of competition between them to provide the best reliable products and services to customers.” Pointing out that artificial intelligence systems are among the most widespread systems that can contribute to bringing about many fundamental transformations in the banking sector. He explained that these systems allow bank officials to communicate with customers through “chat bots” that will be linked to popular social messaging platforms such as
problems and complaints efficiently, as well as responding to their inquiries related to detailed information about Products, ATMs, foreign exchange rates, branch hours, etc.
Artificial intelligence systems contribute to reducing the bank’s operational costs, reducing errors, increasing revenues, and
bank employees make safe loan and credit decisions, which ensures achieving more profits, as well as making investment decisions, supporting research in this aspect, writing reports based on financial data, and combating money laundering and fraud. Artificial intelligence is a very effective and powerful tool to reduce such types of crimes.
ahlibank announced the unaudited financial results for the six months ending June 30, 2024, wherein the Bank achieved a Net Profit of RO20.20mn, compared to the Net Profit of RO19.91mn for the same period in the year 2023, marking an increase by 1.5 per cent.
ahlibank’s total assets recorded an 8.1 per cent growth, reaching RO3.4bn as of June 30, 2024, compared to June 30, 2023. Customer deposits increased by 8.3 per cent, reaching RO2.6bn, while net loans and financing grew by 5.3 per cent, reaching RO2.8bn compared to the same period in 2023. The Bank’s operating income rose by 3.2 per cent, reaching RO50.63mn as of the end of June 2024.
Commenting on the first half results, Said Abdullah Al Hatmi, CEO, ahlibank, stated, “The financial results ahlibank achieved in the first half of 2024 reflect its forward-thinking approach alongside its ambitious digital transformation strategy. It also highlights the Bank’s diligent efforts, wealth of experience, and excellence in the banking sector, all of which is supported by its comprehensive portfolio of exceptional banking products and services.”
“ahlibank’s financial results in the first half of the year attest to its embarking on a continuous growth journey, reaffirming its leading position in the Sultanate of Oman’s banking sector. The financial indicators also showcase the Bank’s eagerness to fulfill its obligations towards its shareholders, as ahlibank strives to increase added value, and operate with utmost integrity in order to ensure customer satisfaction. Due to this strategic approach, we were able to establish a resilient ethos and set new standards for excellence and continued success. In this regard, ahlibank has received many prestigious awards in recognition of its work ethic and efficiency as a distinguished leading banking institution in the Sultanate, one that plays a prominent role as the preferred “Partner in Excellence,” Al Hatmi added.
Al Hatmi further stated, “ahlibank received recognition for its exceptional performance and innovative approach, attaining the Corporate Bank of the Year Award at the MENA Banking Excellence Awards 2024. The Bank also won three distinguished awards at the ninth
edition of the New Age Banking Summit 2024 – the ‘Excellence in Private Banking’ award, ‘Excellence in Corporate Banking’ award, and ‘Excellence in Digital Transformation’ award.”
Al Hatmi also stated that the first half of the year witnessed the successful completion of ahlibank’s Additional Tier 1 Capital Instruments (AT1 Bonds) issue aggregating RO40mn, through private placement. The subscription received wide acceptance and great demand from local and foreign investors and government bodies underscoring the widespread popularity of ahlibank’s financial instruments.
He reaffirmed that, in addition to ahlibank’s achievements during the first half of the year,
the Bank plays an active role supporting Corporate Social Responsibility initiatives. In keeping with the same, ahlibank, represented by the “ahli cares” team, conducted a visit to the Social Welfare Home for the elderly in Al Rustaq, partaking in a day of community service and engagement with the residents of the home. The team delivered essential care items, supplying basic necessities and medical equipment that would enhance the home’s services and overall quality of life. Al Hatmi, concluded his statement by emphasising that the Bank is steadfast in pursuing a promising path that will ensure it remains at the forefront of the banking sector, thereby contributing to the furthering of the Sultanate’s socio-economic growth.
OPENING NEW AVENUES
Vale sells 50 percent stake in Vale Oman Distribution Center to achieve ambitious long-term growth
Global mining giant, Vale S.A., through its subsidiary Vale International S.A., has signed a binding agreement with a subsidiary of Apollo Global Management (Apollo), a leading alternative asset management and retirement services provider, for a 50 per cent equity stake in Vale Oman Distribution Center (VODC) for US$ 600mn. The transaction is expected to close by the end of the second half of 2024, subject to customary regulatory approvals. The sale will maximise returns and monetise Vale’s existing assets around the world.
VODC operates a maritime terminal in Sohar Industrial Port, featuring a large deepwater jetty and an integrated blending and distribution center with a nominal capacity of 40 million tons per year (Mtpy). Under the agreed terms, Vale will continue to exert significant influence over VODC operations
under a joint control structure with no effect on the organizational structure or work force.
Nasser Al Azri, Chief Executive Officer of Vale Oman said, “The deconsolidation of Vale Oman Distribution Center signifies an important step forward that will enable us to achieve our ambitious long-term growth and expansion plans in the Sultanate. It underscores our commitment to supporting the nation’s economic diversification strategy and empowerment for social development.”
He went on to explain, “Optimising capital allocation through an asset-light operating model provides greater efficiency and agility that strengthens our competitiveness and strategic position. This will enable us to navigate market dynamic, capitalise on emerging opportunities and solidify
our leadership in the industry.”
Vale will retain 100 per cent ownership and control of Vale Oman Pelletising Company (VOPC), which plays a crucial role in the production of high-quality iron ore pellets used in steel production and other industries, such as construction, manufacturing and technology.
Over the last 17 years, Vale has significantly contributed to the Sultanate’s evolving economic landscape and delivered sustainable social value by developing and exploring opportunities that generate jobs, train local talent and drive the local supply chain development. This latest strategic transaction will reinforce the nation’s importance in the global mining industry, opening new avenues for growth and prosperity.
SEAMLESS SERVICE
Sohar International revamps its call center IVR system to enhance the customers’ digital journey
Sohar International, Oman’s Best Bank, has revamped its Interactive Voice Response (IVR) systems within the call center. This enhancement is part of the bank’s ongoing commitment to providing exceptional services and personalised digital experiences to its valued customers.
In addition to phone support, customers can now access the bank’s call center through various communication channels, including web chat, which will instantly address frequently asked questions. This multi-channel approach ensures that assistance is always just a click or call away, no matter where customers are. The revamped IVR system includes advanced self-service options, enabling customers to perform several tasks independently and seamlessly, saving waiting time in queues.
These options include self-authentication via IVR, card activation (Credit and Prepaid Cards), PIN reset, and account balance check. Moreover, the priority of blocking cards, Mobile Banking App, and Internet Banking as protection tools to our customers.
Going beyond measures, with subject matter experts dedicated to applications of retail products and services, it will make it easier for both our existing and new customers to conveniently request their preferred product/ service. This empowers Sohar International’s customers to manage their banking needs at their convenience – anytime, anywhere.
“At Sohar International, we continuously strive to enhance our customer experience by leveraging the latest technology,” said Abdul Qader Al Sumali, Chief Retail and Premier Banking Officer. “The revamp of our IVR system is a testament to our dedication to providing superior, personalised services and ensuring that our customers can access the assistance they need, whenever they need it. Our focus remains on the augmentation of our customers’ experience, which constitutes a cornerstone of Sohar International’s strategy.”
The upgraded IVR system introduces a host of new features designed to streamline interactions and offer tailored services to meet the diverse needs of clientele.
Sohar International’s new IVR system is meticulously designed to ensure every customer interaction is smooth and efficient, with a keen emphasis on personalised services. The structured IVR system now includes tailored call routing that categorises customers based on their specific segments.
Understanding the unique needs of diverse clientele, Sohar International has introduced dedicated lines that cater specifically to Conventional, Islamic, and Corporate clients. This ensures that customers receive
specialised assistance from representatives who are experts in their respective banking fields. Additionally, the queuing system has been upgraded to grant Sohar | Premier, Sohar | Wealth, and Sohar | First customers priority access to dedicated representatives.
Sohar International’s investment in these upgrades underscores its commitment to maintaining its competitive edge in the banking sector. These initiatives are also a reflection of the bank’s proactive approach to meeting diverse customer needs and solidifying its leadership in innovative banking solutions in Oman, driving operational efficiency, and channeling efforts toward sustainable growth.
ELEGANCE PERSONIFIED
Tanishq makes a sparkling debut in Oman with
We are delighted to announce the opening of the first Tanishq showroom in Oman, at the Avenues Mall. Tanishq has had an amazing growth journey since its
its first showroom in Muscat at The Oman Avenues Mall in partnership with Khimji Ramdas, a prominent business conglomerate in Oman. This collaboration marks a significant milestone, bringing Tanishq’s exquisite jewellery collection to the region.
Located in this popular shopping centre, the new store offers a unique shopping experience, attracting many visitors. The prime location and elegant design of the showroom are set to make it a favourite spot for discovering Tanishq’s beautiful jewellery. With the support of Khimji Ramdas, the showroom is poised to become a go-to destination for jewellery enthusiasts in Muscat. The grand opening ceremony, held on August 6, 2024, was a celebration of elegance and tradition, reflecting Tanishq’s commitment to excellence and innovation in jewellery design. The event was attended by esteemed guests, including local dignitaries,
square feet, Tanishq’s new showroom at The Oman Avenues Mall features an elegant and contemporary design, creating a luxurious shopping environment that showcases the brand’s extensive collection. From intricately crafted gold jewellery to stunning diamond pieces and timeless traditional designs, customers will find an array of options that cater to every occasion and preference.
“Expanding into Oman marks a significant milestone for Tanishq. We are thrilled to bring our legacy of exquisite craftsmanship and innovation to this vibrant market. Our new showroom at The Avenues Mall represents our dedication to offering the highest quality jewellery and a personalized shopping experience. We are eager to forge new connections with our customers in Oman and provide them with a memorable and delightful experience,” said Kuruvilla Markose, CEO, International Business at Titan.
that this new showroom will receive tremendous response from our valued customers. We look forward to continuing this successful partnership and offering great products to the people of Oman said Nailesh Khimji, Director at Khimji Ramdas
To commemorate the opening, Tanishq has introduced exclusive offers and promotions for the first month. Customers visiting the new showroom will enjoy special discount, exquisitely crafted collections and unique gifts with their purchases.
The Tanishq showroom at The Oman Avenues Mall is open daily from 10 am onwards and the team looks forward to welcoming jewellery enthusiasts and new customers alike. With its first venture into Oman, Tanishq continues to enhance its presence in the Middle East, delivering exceptional craftsmanship and unparalleled customer experiences.
A KEY ECONOMIC ENABLER
Eng. Ahmed Akaak, Acting CEO, Special Economic Zone at Duqm shares business opportunities within SEZAD, incentives on offer and the enabling environment of Oman in an exclusive interview with OER
Can you give us an overview of SEZAD and its operations?
The Special Economic Zone at Duqm (SEZAD) is an extraordinary industrial hub, centre of innovation and gateway to global trade. With a well-established track record of success, SEZAD is already playing a leading role in Oman’s new Renaissance as it brings to life the rich possibilities of Oman Vision 2040 by opening up the vast potential of the green economy and accelerating industry towards the
opportunities of a tech-driven future. With over 13,000 people working on SEZAD, our ambitious community of investors from 34 countries involved in more than 260 business activities – all capitalising on the real opportunities SEZAD offers right now. I should add that with space for every ambition, at 2,000km2 SEZAD is amongst the largest special economic and free zones in the MENA region. It is such a dynamic environment for investment across a range of industries.
Could you give us more insights into the key industries and sectors within SEZAD?
Certainly. It is my pleasure to share with you some of the real opportunities available right now within SEZAD. I will focus on five but I have to say there are many, many more.
Firstly, due to our strategic location – we are at the heart of the GCC market with its 50+ million consumers and neighbour the economic growth centres of Africa and Asia, which by 2032 are expected to account for over 50 per cent of consumer spend worldwide – Duqm is an ideal hub for logistics and maritime operations. The Duqm Port and Dry Dock are central to this, offering services for ship repair, maintenance and maritime logistics. I think readers might be interested to know that our shipping times are, on average, 30 to 40per cent lower than those of competing locations and according to the World Bank, Oman has the fastest import and export compliance times within the Gulf. We also have a state-of-the-art airport and air cargo terminal and are connected to a worldclass network of roads and highways reaching across Oman and onwards to the GCC.
Of course, with a growing worldwide emphasis on sustainability, our green energy offer is much discussed. It has been said that Oman is a future renewables superpower and, I am happy to point out that we at SEZAD and in the surrounding Duqm area are absolutely central to this. Thanks to our exceptional natural advantages – an abundance of land, solar and wind as well as its outstanding strategic location – Duqm has game-changing renewable energy potential with prospects for green hydrogen particularly strong. Supporting the powerful opportunities
in renewables is the export-oriented HYPORT Duqm – SEZAD’s 500 MW green hydrogen and ammonia plant. Set to be a world-scale producer and exporter of zero-carbon fuels to international markets, the plant plays a major part in the International Energy Agency (IEA) prediction that Oman will be the largest exporter of green hydrogen in the Middle East and the sixth largest globally by 2030.
Next, I turn to SEZAD’s manufacturing offer. Duqm is becoming a hub for next-generation manufacturing with construction materials, petrochemicals, steel, automotive and fish processing amongst our high-potential prospects. In fact, the Omani market for components, parts and systems for the generation of green energy is set to be one of the largest in the world and the possibilities for renewable energy equipment manufacture, assembly, servicing and maintenance are remarkable.
Developed to support the ambitions of companies involved in this highprospect sector, is the 260 km2 industrial zone - to put that in perspective, that is over twice the size of Paris. In addition, we are already seeing downstream investment from major manufacturers keen to capitalise on associated possibilities. These include Japan’s Mitsui and Kobe Steel along with India’s Jindal Shadeed - who are set to establish the world’s largest green steel manufacturing plant on SEZAD - an industry in which Oman has acknowledged world-leading potential.
I move on now to petrochemicals. Duqm Refinery’s 230,000 barrels a day production capacity and the exceptional facilities of the Markaz Crude Oil Storage Terminal – one of the largest oil storage and export projects in the Middle East – along with state-of-the-art industrial facilities, dedicated zones for petrochemical industries and utilities able to support large-scale petrochemical operations. Duqm is an unrivalled destination for petrochemical manufacturers targeting growing markets linked to the green energy transition, clean technologies, mobility, construction, durable goods, healthcare and packaging.
In addition, it would be remiss of me not to highlight Duqm’s offer as regards tourism. Still in its infancy, this year-round destination with a spectacular pristine coastline, treasure chest of wildlife and a diversity of stunning landscapes offers a wealth of opportunities for investment, especially as regards eco, adventure and luxury tourism as well as ITCs, entertainment complexes and so forth.
There are rich possibilities too in fisheries, mining, real estate, leisure and so much more. I do recommend anyone interested to pay us a visit and see firsthand how exceptional our offer is.
I believe SEZAD has a new area dedicated to space technologies? That is correct. Eying the significant possibilities of the expansion of the space economy and embracing its potential, SEZAD has set up an 18km2 area dedicated to future technologies as well as related research, studies and experiments. It is divided into five distinct project areas – the Space Habitat Centre; Commercial Space Launching Area; Unmanned Vehicles Technology Centre; AI & Advanced Technology Testing Area; and Ground Station. Focused on fostering innovation and developing a robust space ecosystem in the region and benefiting from strong government backing, the area offers investors an infinite number of opportunities from satellite manufacturing and assembly to launch, data and communications services, AI and beyond.
SEZAD clearly has an array of opportunities but what benefits and incentives do you offer foreign investors and businesses?
Good question, I am glad you asked that. Strategically located and seamlessly connected to the world, this economic powerhouse offers ambitious investors world-class infrastructure, cutting-edge facilities and highly competitive operating costs. A dynamic business destination, Duqm is also a relaxed multi-cultural city with every modern facility where you can raise a family and enjoy life to the full. In terms of incentives, we are extremely business friendly with
zero per cent personal income tax, 100 per cent foreign ownership, no restrictions on capital repatriation or dividend transfers and utility rates are competitive. I strongly recommend prospective investors to contact SEZAD’s One-Stop-Shop to find out more. The dedicated team there can provide full details on all our incentives, guide you through the set-up process and even direct you to recruiting skilled multi-lingual talent, of which Oman has plenty.
What about Oman? Is it a businessfriendly country?
I have to say Oman is enjoying a new era of prosperity under His Majesty Sultan Haitham bin Tarik. Building on Oman being named the world’s fourth most attractive country for foreign direct investment in 2023 in the FDI Standouts Watchlist, the IMF has predicted Oman will have the highest economic growth rate in the Arab World in 2024. May I add that March saw S&P Global Ratings once again upgrade its rating for Oman, this time from ‘BB’ to ‘BB+/B’ with a positive outlook. Similarly, Moody’s last credit rating for Oman in December 2023 was set at ‘Ba1’ with stable outlook.
In terms of global trade, we currently have six Free Trade Agreements and are negotiating with India and Korea amongst others to expand this portfolio. We are also in talks with the UK as part of a GCC-wide agreement. These are all significant markets. The UK-GCC FTA alone is expected to boost trade by 16 per cent. I should add too that Oman is fully committed to a trading system that is more resilient, more balanced and fit for the future – one that takes into account the needs of all countriesnorth and south, east and west.
Moreover, it is ready to deal with the challenges of climate change and sustainability if we are to avoid fragmentation, safeguard trade flows and ensure the business environment is reliable and predictable. Above all, we are a stable, tranquil country, one that has welcomed visitors for countless generations and one that is today open for business and ready for every opportunity.
INVEST IN GENNEXT
Hussain Al Maimani, a dedicated engineer, technologist and Sales Director in Oman’s rapidly advancing ICT sector, sits down with Alvin Thomas from OER. In their conversation, Al Maimani shares insights into his professional journey and significant achievements with IBM,
When we last spoke, just before the New Age Banking Summit, I could feel the passion and professionalism you bring to your work. Before we delve into your professional life, let’s talk about your early days.
I was born in the UK, in a place called Ashford, and spent a significant part of my early years there. My father, Mr. Aslam Mohammed Ali Al Maimani, was in the Air Force. He was a colonel and one of the pioneers who helped establish the Omani Air Force. He was also among the first batch of five pilots.Growing up in a strict military household meant we travelled a lot because of my father’s assignments and training courses abroad, mainly in the US and the UK. I went to high school at Brondesbury Park and stayed there until I completed my GCSEs.
It was a great time to be in the UK – very interesting and my formative years. We frequently travelled between the UK and Oman, spending summers in either place. This exposure to both cultures significantly shaped my personality. While many Omanis pursue higher education abroad, I feel my high school years in the UK were those that were particularly impactful. By the time you’re 18 or 19 and heading to university, your personality is mostly formed. I firmly believe that the years spent in high school are critical for shaping one’s character and studying abroad during that period had a particularly profound influence on me.
Parents often ask their kids what they want to be when they grow up. You have two kids yourself, so you probably know it’s not as common a question these days. But were you
ever asked that? If so, what was your answer?
Yes, I was indeed asked that question. In my very early years, my answer was always that I wanted to be like my father, in the Air Force, either a pilot or a fighter pilot. But as I approached my teenage years, I discovered a passion for technology. I remember coming home from school and playing with those old PCs with the thick CRT screens running Windows 98. The machines were massive, almost a meter and a half big. I started dismantling them, adding RAM and playing with the microchips, and experimenting with different components. I was around 11 or 12 years old when I began doing that.
When was the first time you saw a computer, and how amazed were you?
The first time I saw a computer, I thought it was just a gaming machine. My older brother was playing games like Tetris or Prince of Persia on the PC, and I assumed that’s what PCs were for. I was probably around eight or nine years old at the time. I started playing games on it too.
But, I started fiddling with them around the age of 12. I was always very curious, and that curiosity drove me to dismantle the PC. I wanted to understand how it worked, what was inside, and what made it function. I remember wondering what connected the PC to the screen, and what the mouse did. Do you remember those old mice with the ball inside (?) I used to take the ball out and play with it, and I would mess around with the keyboard too.
Those were interesting times. This was also the era of the dial-up internet. I remember the connection sounds and the speeds of 56kbps – at the time – was fascinating. As I got older, I got into chat rooms like ICQ and MSN Messenger. That’s when I realised I had a passion for technology. It dawned on me that this could be my future.
Okay, so let’s talk about university. Where did you go for your higher
education, and what did you study? I returned to Oman during that time because of some personal family matters. So, I decided to stay in the GCC region for my studies. One of the options I had considered while in high school in the UK was universities there, but after returning to Oman, I researched regional universities and the American University of Sharjah (AUS) caught my attention. It’s a top-notch facility in the middle of the desert.
I remember spending sleepless nights in the engineering labs – it was tough but rewarding. I registered, got accepted, and started with a foundation year in engineering, then pursued computer engineering.
The 1990s and 2000s were transformative years for technology. Back then, tech wasn’t as accessible, with the most modern technology being FM/AM radios and basic digital clocks in cars. Now, technology is ubiquitous, even in developing markets. How do you feel about being in this space right now? It’s incredibly exciting and fulfilling to be part of such a transformative industry. Technology has drastically changed our lives. Think about how much technology has shaped your daily activities over the past few years. Now, imagine that impact on a corporate level.
Technology has revolutionised the way companies do business, and its influence is accelerating. It used to be about just keeping operations running, but now it’s integral to business strategy. This shift has become more pronounced over the past few years, making it an interesting and dynamic field to be in.
So you graduated from college and had been shaped by your experiences there. When you started looking for a job, how did your journey unfold?
During university, we were required to complete an internship, usually in the summer before our final year. I was on the lookout for a company where
I could gain meaningful experience, and at that time, I was particularly fascinated by IBM. To me, IBM was the pinnacle of technology – legendary, with the most patents and Nobel Prize winners. So when I returned to Oman, I discovered that GBM was the IBM partner for the region, representing them in Oman. My goal was to intern with them.
I applied for an internship in the summer of 2009 just to get some handson experience. And as it goes – that’s where my journey with GBM began. I fondly remember working with Prasad, the head of Technical Support Services (TSS) at the time. I was involved in implementing, configuring, and supporting IBM systems like servers and storage.
As a trainee, it was thrilling to be immersed in IBM technology. I shadowed engineers, went on calls, and even designed a layout for a bank’s data center using Microsoft Visio. I was tasked with creating a blueprint for their setup, which was both challenging and exciting.
At the end of my internship, Prasad came to me and shook my hand before saying: “Congratulations. I know you’re going back to University to finish off your last year. But, you have a job when you come back.”
GBM had offered me a job on the spot. It felt amazing to receive such an offer. My father was thrilled, especially since GBM and IBM were highly regarded. He encouraged me to finish my studies and return to Oman.
Thereafter, I completed my studies and joined GBM as an engineer in the summer of 2011. My initial role involved hands-on technical work, which was intense but incredibly rewarding. After a couple of years, I was approached by the sales manager and director. They suggested I try a sales role, given my technical background and understanding of the technology. They believed it would give me an edge as an account manager, combining my technical
expertise with a new skill set. That marked the beginning of my transition from engineering to sales. It was a significant shift, but it was an exciting new chapter in my career.
I am certain you have goals for nurturing and guiding the next generation. What are your targets for modernisation and talent development in Oman? Investing in the next generation is a top priority for me. It’s something I’m deeply passionate about. I want to coach young talent entering the job market, helping them build successful careers by providing them with the same opportunities and guidance that I received. I’m also committed to supporting growing SMEs and local startups. I have immense respect for those who take the bold and ambitious step of starting something from scratch.
My goal is to work closely with these startups in Oman, particularly those in the tech and fintech sectors. I want to see these startups not just succeed locally but also make their mark on a global scale. This is a personal KPI for me – to invest time and effort into supporting local tech companies and educational initiatives.
I aim to contribute to building a vibrant tech ecosystem in Oman that could potentially become something akin to Silicon Valley. In fact, turning Oman into a hub of innovation like Silicon Valley would be the ultimate dream.
Technology is evolving rapidly, and staying updated is crucial. For someone looking to enter the tech sector today, what does it take to succeed?
It’s definitely a multifaceted challenge. While personal interest in technology is vital, the ecosystem involves many stakeholders, and collaboration is key. In Oman, there’s a significant effort from both the private and public sectors. The Ministry of Transport, Communications & IT (MTCIT) is making strides to create a supportive environment, focusing on governance and development.
But it’s not just about government initiatives. The private sector needs to work hand-in-hand with the public sector to drive progress, and the educational sector. The focus should also be on creating a digital economy that diversifies beyond traditional sectors like oil and gas, aiming for a more balanced economic structure.
Diversification is indeed key. You mentioned the importance of education. We’ve seen that in some countries, AI is already part of the curriculum for younger students. Do you believe technology, including AI, should be introduced at an earlier stage in schools here in Oman? Absolutely. I strongly believe that technology topics should be introduced early in education. AI, for instance, is becoming as integral as subjects like biology or chemistry. Introducing these concepts at a young age helps embed technology into the culture and prepares students for the future.
But, I believe it’s crucial for parents to be very involved in managing their children’s tech exposure. It needs to be done thoughtfully and gradually, so they benefit from technology without being overwhelmed.
With my two young children (aged four and two), I’m cautious about their screen time. My elder son, despite his young age, is already quite tech-savvy. He figures out how to use my phone, even though it’s locked, and navigates YouTube with ease.
However, it’s important to monitor their technology use carefully. At such a young age, exposure to screens and digital content needs to be managed to avoid overload and ensure they’re not exposed to inappropriate content. I try to limit their screen time and ensure that what they interact with is ageappropriate.
It’s a delicate balance between fostering their interest in technology and preventing potential negative impacts. In a few years, they’ll likely be more advanced with technology than I am. It’s fascinating to think about how quickly they adapt, but it also means
I need to stay vigilant about how they engage with these tools.
Looking ahead, what do you think will be the most transformative and crucial development in technology for humanity? Given AI’s significant role now, what’s next for it?
The next major step for AI will be governance. As AI becomes increasingly integral to various sectors, managing and regulating its use will become critical. If we look back at the evolution of cloud computing, we saw it start with simple cloud adoption, then progress to multi-cloud environments, which introduced complexity in governance. I anticipate a similar progression with AI. Organisations will need to handle multiple AI systems and ensure they are governed properly to prevent misuse and ensure ethical behavior.
As we near the end of our conversation, could you share your thoughts on the top technologies that will shape the next decade or two?
So, number one would be Artificial Intelligence. Number two would be quantum computing. And number three, I would say, is augmented reality and virtual reality, particularly with developments like the Metaverse. For instance, in the near future, we might find ourselves having a conversation where you’re in your house and I’m in mine, yet we could both feel like we’re in the same coffee shop in the Metaverse. I believe we’re not far from that reality.
Additionally, we must consider Cybersecurity. As technology evolves, it’s crucial to ensure that it’s used ethically and securely, as there will always be a demand for robust Cybersecurity measures on both individual and corporate levels.
If we dig a bit deeper, telecommunications is another area of significant change. With 5G becoming somewhat outdated, we’ll likely see the advent of new generations of communication technologies, introducing novel protocols and systems that will revolutionise how we connect.
Embracing the Next Era of Digital Innovation
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TOWARDS A SUSTAINABLE FUTURE
Oman has set ambitious plans for its energy transition journey, aligning with the Vision 2040 framework. An OER Report
The Sultanate of Oman has affirmed its commitment to support international efforts to cut down carbon emissions, alleviate the negative effects of climate change and implement a plan for energy transition and decarbonisation with investments of more than $190bn by 2050.
A cornerstone of Oman’s aggressive energy transition plan, Hydrom has secured over $49bn to produce 1.38 million tonnes of green hydrogen annually by 2030. This significant milestone, achieved after the successful second round of green hydrogen block auctions in Dhofar, marks the completion of Phase A of Oman’s Hydrogen Strategy. In preparation, Oman is ramping up its infrastructure, planning to install 40 million solar panels, 2,000 wind turbines, and 650 electrolyzers by 2030 to power its green hydrogen ambitions.
Further, the Sultanate is taking rapid strides to become one of the largest exporters of low-carbon hydrogen by 2030. It is ramping up efforts to build a full-fledged ecosystem that capitalises on its strategic position and unlimited potential to become a rising global hub on the green hydrogen map. Oman’s energy sector is undergoing a significant transformation, driven by the government’s focus on diversifying its energy sources and enhancing the efficiency of its infrastructure, according to a new report.
“The growing emphasis on renewable energy, energy efficiency, and alternative energy sources, such as nuclear power and hydrogen, is
expected to reshape the country’s energy landscape in the coming years,” the London-based EnergyPortal.eu said in its latest report titled ‘Oman’s Energy Market: Key Trends and Future Outlook’. The report further said that addressing the challenges of investment, human capital development, and regulatory support will be crucial for the successful realisation of Oman’s energy sector goals. The country’s energy sector is primarily driven by oil and gas production, which has been the backbone of its economy for decades, the report said.
The Oman government has been actively pursuing alternative energy sources, such as renewables, to ensure sustainable growth and reduce the country’s dependence on hydrocarbons. One of the most notable trends in Oman’s energy market is the growing emphasis on renewable energy, the report said.
“The government has set ambitious targets for renewable energy generation, aiming to achieve 10 percent of the country’s total power generation capacity from renewables by 2025. This is a significant increase from the current levels, which stand at less than one percent. To achieve this target, Oman has been actively investing in solar and wind power projects, with several large-scale projects currently under development,” the report further added.
The report further said that another key trend shaping Oman’s energy market is the increasing focus on energy efficiency and conservation.
The government has been implementing various initiatives to promote energy efficiency, such as the adoption of energy-efficient building codes and the introduction of energy performance labels for electrical appliances. Moreover, Oman has been investing in upgrading its existing power infrastructure to reduce transmission and distribution losses, thereby enhancing the overall efficiency of the energy sector.
The Ministry of Energy and Minerals has also embarked on forging local and international partnerships that contribute to achieving the country’s transition to green energy. In this backdrop, the ministry took steps by introducing clean energy projects and launching green hydrogen investment packages. The development of the green hydrogen economy will provide a strategic opportunity for Omani and international companies to participate and collaborate in driving local and global energy security, economic diversification and muchneeded climate change mitigation. To lead the country’s ambitious green hydrogen strategy, the government has already established HYDROM, a fully owned autonomous Energy Development Oman SAOC (EDO) subsidiary. Regulated by the Ministry of Energy and Minerals, HYDROM’s mandate includes the delineation of Government-owned land areas and the structuring of associated large-scale world-class green hydrogen projects. Its mandate also includes managing the process of allocating land to developers as well as facilitating the development of common infrastructure and connected ecosystem industries
and hubs in close collaboration with the Public Authority for Special Economic Zones and Free Zones (OPAZ). Oman’s visionary plans for the green hydrogen economy and the joint infrastructure being developed to support these projects, will open doors for various industries to transition towards green production methods. A number of initiatives are in place to put the Sultanate of Oman on the list of the world’s leading green hydrogen producers, thus making it an attractive destination for foreign industrial investments seeking to transition to clean energy.
Oman signed $20 billion of contracts with partners including BP, Shell and the newly formed Hydrogen Oman (Hydrom) to produce 500,000 tonnes of green hydrogen each year. The production targets are 1 million tonnes by 2030, 3.75 million tonnes by 2040 and 8.5 million tonnes by 2050. This should make the Sultanate the world’s sixth largest exporter of hydrogen by 2030. By 2040, those exports are projected to be worth 80 percent of Oman’s current exports of liquefied natural gas (LNG), according to the International Energy Agency. Oman’s decision to go for green is partly explained by the fact that it has some of the world’s leading renewable energy resources, according to S&P.
Oman’s efforts to become a leading global green hydrogen hub seems well underway driven by innovation, abundance and a futuristic outlook that promises to reshape the global energy landscape through the power of green hydrogen.
CONSTANT CUSTOMER ENGAGEMENT
Shifting our processes towards digital transformation is a key component of the company’s business transformation strategy, and critical to the success of its strategic vision, says Salim Al Kamyani, CEO, Nama Electricity Supply Company
Nama Electricity Supply Company
S.A.O.C (NESC) commenced its new identity and operation starting June 1, 2023. Can you give us an overview of the company’s activities and operations?
Nama Electricity Supply Company
S.A.O.C (NESC) is a member of the Nama Group (NG) of companies. The company commenced its new identity and operation starting from First of June 2023. The company was formed following a strategic directive from the government for a complete restructuring of the Distribution and Supply electricity companies. NESC is currently the exclusive provider of electricity supply services in the Sultanate of Oman (except Dhofar Governorate)
The main activities of the company are:
• Purchase of power via OPWP.
• Settling the mounts to OETC, OPWP & the distribution company via BST, TUoS, DUoS.
• Collection of government subsidy.
• Billing and issuing customer bills based on the readings obtained from the Nama Distribution company.
• Managing customers’ credit and applying the dunning process.
• Manage customer payment channels.
• Resolving issues, requests, inquiries, and complaints related to the supply services.
Furthermore, NESC contributes to a more sustainable and resilient energy future by promoting energy efficiency and helping customers reduce their energy bill.
In what ways is NESC promoting customer awareness and engagement?
NSEC believes in the importance of customer engagement and it supports the same by providing an ease in the use of numerous channels and service awareness to customers. As part of the customer engagement, NESC has a contact center operating 24/7 responding to customers’ needs and inquiries. The contact center is manned by a sufficient number of trained employees to handle different types of calls and deal with different types of customer categories.
The company’s believes in the necessity of working in an integrated manner with continuous and transparent communication with all parties interested in ensuring the development of electricity services and providing the highest level of service to achieve the public interest. Therefore, the company was keen to create a communication plan aimed at enhancing communication and cooperation with relevant parties and community institutions.
Furthermore, NESC has collaborated
with certain influencers to carry out effective marketing campaigns and increase the company’s brand exposure and awareness. Through this collaboration, influencers use marketing tools to develop content and raise awareness on all NESC related services while expanding the company’s social media platform.
Part of NESC communication and outreach strategy is to communicate and engage with different stakeholders such as governors, CRT customers, and government entities. This type of stakeholder engagement will increase customers’ awareness about NSEC services. Therefore, the executive management conducts frequent visits to all governorates. During these visits, opportunities for cooperation are discussed between the company and governors to overcome the challenges.
This approach helps in addressing the interests of customers. In addition, NESC teams conducts visits to other entities such as Omani Women’s Associations, Charity Societies and Voluntary Teams, to have better and effective reach to a large number of customers.
Another initiative led by NESC involved conducting visits to different customers to present the services provided to different customer categories. During these visits, discussions were held to address challenges facing customers and ways to overcome them. Additionally,
NESC organised a Cost Reflective Tariff Summit to shed light on the latest updates in the Cost Reflective Tariff and related options provided by APSR and explained these options to customers. During the summit, NESC presented various ways and experiences in relation to the efficient use of electricity aiming to reduce energy consumption and enhancing efficiency. This step reflects the company’s commitment to strengthen and develop its relationship with customers.
Oman has committed itself to achieve net zero emissions by 2050. In what ways is NESC contributing to sustainability and energy conservation?
NESC focuses on supporting sustainable projects to reduce environmental impact, meet regulatory requirements and foster a positive corporate vision. NESC encourages its customers to use renewable energy, which helps to reduce the overall consumption and ultimately contributes to the reduction of carbon footprint in line with Oman Vision 2040 and Net Zero Emissions objectives by 2050.
In pursuance, the company along with its other sister companies has conducted some initiatives such as:
(1) Nama Week Project which focused on the integrated advanced metering infrastructure (AMI) to enable realtime monitoring and management of energy usage. Additionally, as part of the event, agriculture seedlings were distributed to the public in collaboration with the Environment Authority and teams from the company participated in reef coral and beach cleaning.
(2) National Electricity and Water Conservation Campaign which was led by NESC. This project is aligned with the global focus on sustainable practices. The initiative entailed a comprehensive media campaign throughout the year to promote awareness about energy conservation and encourage customers to reduce their electricity and water consumption.
NESC has made great progress in applying its digitalisation and modernisation strategy throughout 2023. The company considers digitalisation as an important tool to improve customer service and to simplify the processes for both parties in line with Oman 2040 vision. NESC is shifting its processes towards digital transformation as it is a key component of an overall business transformation strategy, and critical to the success of its strategic vision
National talent is an important part of sustainability. Do NESC’s HR policies focus on Omanisation and developing Omani talent (please cite examples)?
One of the company’s main objectives is to develop a talented Omani workforce. By December 2023, the number of permanent employees reached 259. Additionally, NESC encourages contracted companies to enhance the Omanisation level, has successfully achieved a higher Omanisation rate in collection, contact center activities contracts, and is very close to reaching 100 per cent.
Continuous learning and development is an essential tool for team members in an evolving workplace and culture. By investing in their growth and enabling them to acquire new skills, NESC supports its employees to enhance their expertise, adapt to change, foster innovation, build confidence, and strengthen collaboration within the team. Following the merger in June 2023, the company took significant strides in enhancing the skills, knowledge, and capabilities of our employees through a thoroughly planned and executed learning and development initiative.
One of the highlights of our learning and development endeavors in 2023 training and development plan was the successful completion of 41 training courses. These courses were well structured and divided into key areas: HSE, soft skills, leadership and technical training which includes branding and communication in order
to enhance customer engagement and company reputation. This approach ensures the provisioning of a complete development journey to our employees, addressing both technical competencies and crucial interpersonal skills.
The company training and development plan also emphasis on leadership development. Our leadership training courses were designed to nurture and improve the skills necessary for effective leadership, including strategic thinking, decision-making, and team management. As a result, NESC managed to overcome the challenges in culture change resulting from the merger and was able to transform the organisation, enhance value creation, create efficiencies, build trust, and engage their employees to deliver better results. Therefore, we believe that strong leadership is essential for driving innovation, fostering a positive work culture, and achieving organisational success and ultimately meeting customer satisfaction.
How is NESC using digitalisation to improve efficiencies and customer convenience?
NESC has made great progress in applying its digitalisation and modernisation strategy throughout 2023. The company considers digitalisation as an important tool to improve customer service and to simplify the processes for both parties in line with Oman 2040 vision. NESC is shifting its processes towards digital transformation as it is a key
component of an overall business transformation strategy, and critical to the success of its strategic vision. The right technologies, coupled with people, processes, and operations, provide NESC the ability to adapt fast solutions that meet new and evolving customer needs, expectations and drive future growth and innovation. As a result, NESC prioritised digitalisation and implemented the concept as a strategic pillar. To serve this purpose, the company has developed a digital transformation plan that would support the digitalisation journey taking cyber security and risk into consideration.
Can you share some of the CSR initiatives undertaken by NESC?
NESC developed an Efficient Use of Electricity Code that provides awareness and guidelines to the public on how electricity can be used efficiently. This initiative also aligns with the national strategy towards sustainable and Net Zero Emission by 2050. As part of its social responsibility initiatives, NESC trained fresh graduates and undergraduate students, improving their skills and knowledge through on-the job training, and equipping them with practical knowledge to apply in their career.
Furthermore, the company provides free consultancy services in regards to energy conservation and efficient used of electricity which support our customers to reduce their electricity bills and at the same time to contributes towards a green environment.
A TRAILBLAZER
Siddharth Malik, CEO, Vulcan Green Energy shares how the company’s pioneering Integrated Energy Valley project combines solar, wind and various types of energy storage systems to deliver clean and sustainable renewable power
Please share an overview of Vulcan Green Energy (VGE)?
Vulcan Green Energy (VGE) is part of the esteemed Jindal Group, a business conglomerate with over 50 years of business expertise across steel, mining, energy, renewable power and related. The group promoted by the visionary Mr. Naveen Jindal has a long-standing in Oman and is committed to make Oman as one of the most attractive investor destinations. The group’s commitment is evident in its efforts in increasing ICV, skilling of locals, MoU with Oman Football Association to promote football in Oman, support to local communities during Ramadan, conducting regular blood donation camps and various CSR activities. Through its various entities, the group contributes 17% to the non-oil GDP of Oman as of 2023.
VGE is a developer of clean energy assets with a vision to lead global development for our future generations. This requires addressing some of the world’s biggest challenges in energy transition, by providing a viable alternative to fossil-based power generation. It is our mission to develop such innovative assets in partnership with the Oman government for delivering competitive and dispatchable clean energy on demand. This will reduce the emission intensity of Omani grid and pave the way for establishing Oman as Hub of Green Manufacturing. VGE is committed to low-carbon and sustainability of MadeIn-Oman goods & services.
Under the visionary leadership of His Majesty Sultan Haitham Bin Tarik, Oman has committed itself to net zero emissions by 2050. How will
VGE contribute towards this vision?
As Oman, under His Majesty Haitham Bin Tarik’s “Oman Vision 2040”, aims to combat climate change and transition towards a more sustainable future, the adoption of renewable energy technologies plays a crucial role. Governments, businesses, and individuals worldwide are increasingly embracing renewable energy to reduce carbon emissions and create a more environment friendly energy landscape for future generations. The net-zero transition will require innovative asset configurations to provide a technocommercial viable alternative to fossilbased power generation.
One such innovation is VGE’s flagship project configuration- the Integrated Energy Valley (IEV) in Oman. IEV is an integrated project approach that combines solar, wind and various types of energy storage systems to deliver firm & dispatchable clean renewable power. These storage systems include short-term for grid ancillary services, mid-term to deliver grid’s peak requirements, and long-duration storage to deliver baseload power. By utilizing this innovative configuration, the project significantly mitigates the carbon footprint rendering it an irresistible choice for environment conscious industries worldwide.
By deploying IEVs across Oman, VGE in partnership with Oman Government will enable a “green grid” with one of lowest emission intensities in GCC. Since IEV is based on energy storage to address intermittency of solar and wind power, this will enable firm, dispatchable power assets as a viable alternative to fossil-based assets, while also providing stability to the grid. The capability to time-shift renewable power, is core to IEV and will be key to achieving Vision 2040.
What differentiates VGE as a renewable energy company?
The renewable energy generation, storage and on-demand availability is a huge game-changer in today’s massive demand for high yet clean and green energy. IEV will revolutionize sustainability, efficiency, and resilience in the energy sector of Oman. It will
create jobs, stimulate local industries, and contribute to economic growth through a clean energy sector.
The IEV is designed to have a reduced carbon footprint compared to their traditional fossil fuel-based counterparts. The need for low carbon products is driven by the urgency to combat climate change, regulatory pressures, consumer preferences, resource efficiency, and various economic and environmental benefits.
As part of Oman Vision 2040, Relying on renewable sources reduces Oman’s dependence on fossil fuel, and increases energy security. The natural resources are sustainable, clean, and contribute to reducing greenhouse gas emissions, making them integral components of the global transition to cleaner energy systems. Our commitment to environmental responsibility drives us to provide cutting-edge green energy solutions that empower individuals and businesses alike.
IEV will revolutionize sustainability, efficiency, and resilience in the energy sector of Oman.
VGE is a part of the Jindal Group, can you share a brief on the company’s parentage and the strengths, which you derive from this association? Vulcan Green Energy (VGE) is part of India-based Jindal Group - a $25 Billion industrial conglomerate with interests
in steel, mining, power generation and renewable energy. Jindal Group has significant presence in business operations spanning across India, Africa, and Australia, and it has firmly established itself as a global player in its chosen industries.
The group, through its various entities, are developing more than 4GW of renewable power in India and continues to operate almost GW of power plants to fuel India’s economic growth plans. The company also has interests in mining which provides supply chain security for energy and steel sectors worldwide. The company is also committed to contributing to growth of certain African nations, by developing energy and power assets to fuel economic growth, which is currently limited by reeling shortage of reliable power-supply.
Under the visionary leadership of Naveen Jindal, Jindal group has achieved remarkable growth. The organisation’s focus on innovation, enhancing capabilities and enriching lives continue to propel its growth and commitment towards building a better future for the next generation.
How do you foresee Oman’s potential in the field of renewable energy? Oman is well-positioned to become a regional leader in renewable energy. The country’s abundance of solar and wind resources, strategic location in the GCC coupled with
strategic investments and supportive government policies, could drive significant growth in this sector. Oman is well-positioned to utilize this immense opportunity to become the hub of green manufacturing by powering businesses by clean, renewable energy on-demand.
IEV opens the door for Oman’s ports, industries, and free zones to have 24x7 access to 100 per cent clean energy, paving way for foreign investments in steel, cement, and heavy industrial sectors to Oman. As sectors such as Artificial Intelligence and digitalisation expand along with much-needed computing power, firm and dispatchable clean power will also position Oman as a hub of green data centers and drive products and services to power a sustainable digital world.
We at VGE are aspiring to position Oman as the world’s first green manufacturing hub and one of the first countries in the GCC to achieve carbon neutrality under Oman Vision 2040.
Any final thoughts?
Transitioning to renewable energy is not just a choice; it’s a necessity. It’s our chance to combat climate change, reduce pollution, and ensure a sustainable future for generations to come.
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Oman’s Digital Leap
Oman Data Park plays a crucial role in the rapidly evolving energy landscape of the country, where sustainability and efficiency are increasingly vital. OER speaks with Eng. Maqbool Al Wahaibi, CEO of ODP, to explore how the company is contributing to Oman’s energy transition journey
What solutions does Oman Data Park (ODP) offer to help oil and gas companies reduce their carbon footprint and environmental impact, and how do your ICT services support this sector?
That’s a great question. Oman Data Park (ODP) is fundamentally a cloud service provider and digital powerhouse, designed to offer turnkey solutions aimed at enhancing
corporate performance. Our approach to helping oil and gas companies reduce their carbon footprint and environmental impact starts with understanding their unique challenges. In the energy sector, particularly oil and gas, companies face specific pain points that require a tailored approach rather than a onesize-fits-all solution.
From an infrastructure perspective, ODP provides significant advantages. We offer private cloud solutions that operate on an operational expenditure (OpEx) model. This is crucial for energy companies who are at a stage where their IT infrastructure is due for a refresh. Traditionally, refreshing IT infrastructure involves substantial capital expenditures (CapEX). By transitioning to an OpEx model with ODP, these companies can avoid these significant upfront costs. This not only alleviates the immediate financial burden but also significantly reduces the total cost of ownership (TCO) over time.
Moreover, ODP integrates with hyperscale cloud standards through partnerships with major cloud providers like Amazon AWS. This integration allows energy companies to migrate some or all of their workloads to public clouds, benefiting from the advanced features and economies of scale that hyperscale cloud platforms offer. The hyperscale cloud environment supports scalable and efficient computing, which is
Eng. Maqbool Al Wahaibi CEO, Oman Data Park
THOUGHT LEADERSHIP
instrumental for companies aiming to optimise their operations and reduce their environmental footprint.
Does this include cloud computing as well?
Absolutely. Cloud computing is a cornerstone of our strategy. By leveraging cloud services, corporations – including those in the energy sector – can adopt a pay-as-you-go model. This approach enables them to scale their resources according to their current needs without making substantial upfront investments in physical infrastructure that may not be fully utilised.
Typically, companies over-provision infrastructure to anticipate future needs, leading to a 10-20 per cent surplus that often goes to waste. Cloud computing eliminates this inefficiency, allowing companies to only pay for what they use.
Over a period of five to ten years, companies can achieve a reduction in TCO by 40-45 per cent through cloud computing. This translates to significant cost savings – often in the millions of dollars – that can be redirected towards more strategic initiatives or other sustainability goals.
What operational efficiency improvements do you foresee for companies using private clouds and solutions like AWS with ODP? How will this contribute to carbon
footprint reduction?
Let’s examine this in two parts: the value of digitalisation and its effect on operational efficiency. Digitalisation enhances performance, and our partnerships with Amazon AWS, Oracle OCI, and our own Nebula AI platform offer tools to boost energy companies’ performance.
Artificial intelligence (AI) is integral to this digital drive. AI adds a layer of intelligence to operations, significantly improving asset management and efficiency. Our AI capabilities, integrated with platforms like Amazon AWS and Oracle Cloud Infrastructure (OCI), enhance performance in the energy sector. We also offer GPU-based infrastructure, such as NVIDIA GPUs through Nebula AI, which provides the necessary processing power for tasks like seismic processing (among many other uses). This advanced processing is essential for accurate data analysis.
Companies like Amazon AWS and Oracle are heavily investing in R&D to advance AI technologies. These developments will enhance energy sector operations, making them smarter, faster, and more costeffective.
Cloud computing and digitalisation are set to significantly reduce carbon footprints. By adopting these technologies, companies can streamline operations, cut energy
consumption, and minimise waste. Cloud solutions enable more efficient operations, using resources effectively and reducing environmental impact.
To provide some context, cloud computing is significantly more energy-efficient compared to traditional on-premise data centers. According to a recent Microsoft report, cloud computing is 93 per cent more energy-efficient. Additionally, research funded by Google and conducted by Berkeley Lab and Northwestern University indicates that businesses can reduce their energy costs by 60 to 85 per cent by transitioning to cloud-based services.
Can you discuss any collaborations or partnerships Oman Data Park has formed to drive the energy transition in Oman?
We have several key partnerships supporting Oman’s energy transition. At ODP, we have developed a robust partnership ecosystem tailored to the energy sector’s needs. While oil and gas corporations already have established partnership frameworks specific to their industry, our focus is on integrating IT and digital platforms to enhance overall value.
The Nebula AI infrastructure and ecosystem are pivotal in this integration, offering significant benefits in terms of performance optimisation and value maximisation for the oil and gas sector. Our collaborations with international
partners such as Schlumberger and Halliburton exemplify this approach.
With Schlumberger, we host their rig automation platform, providing a shared resource that benefits multiple oil and gas companies in Oman on an as-needed basis. This collaborative model contrasts with traditional siloed approaches and allows for more economical and efficient use of resources. Similarly, our partnership with Halliburton enables us to leverage their advanced analytical solutions for the broader oil and gas industry in the country.
We are deeply committed to the oil and gas sector and are continually working to understand its unique requirements. We believe that these strategic partnerships and innovative solutions will drive significant progress and deliver substantial benefits in the future.
We’re also currently engaging with Energy Development Oman (EDO), impressed by their digital transformation strategy. They are enthusiastic about digitalisation enhancing asset value. Our role
would be to help reduce their capital investments in digital infrastructure and allow them to focus on their core business without managing IT complexities.
To our energy clients, we offer complimentary consultancy services to design optimised infrastructure solutions based on their needs, demonstrating the financial benefits of cloud computing.
Our partnership with OQ illustrates this well. We developed a pricing model allowing OQ to select infrastructure components from a predefined list at agreed costs. They can request components, and we provision them within 24 hours. This contrasts with the traditional procurement cycle, which can take 8 to 12 weeks, or even up to a year. By reducing this cycle from 12 months to 24 hours, we offer faster and more efficient solutions.
What role do AI, ML, big data, and analytics play in Oman’s energy transition, and how does ODP facilitate this for its clients? AI, machine learning (ML), big data,
and analytics are essential to the energy transition journey of Oman. These technologies offer advanced tools for data analysis, predictive maintenance, and operational optimisation.
Just to give you an example: by analysing data from satellites, sensors, and weather stations, we can predict solar radiation and wind speeds. This will play a big part in Oman’s net-zero journey, which includes the development of solar and wind farms to support our energy grid.
AI can also use historical consumer data to forecast electricity demand, which is critical for preventing supply disruptions. Today, technology is increasingly used for grid planning, from selecting the right grid types to wire sizes. Inspecting and maintaining extensive grids is challenging, but machine learning software predicts wiring anomalies and transformer failures, saving time and costs.
For the oil and gas sector, AI also significantly impacts drilling operations by employing predictive models to evaluate factors such as geological formations, drilling equipment performance, and environmental conditions. This enables AI to foresee potential risks and challenges, allowing drilling teams to proactively manage issues, improve safety measures, and optimise drilling processes.
ODP supports integrating these technologies into clients’ operations through our Nebula AI platform, utilising GPU-based processing to handle large data volumes.
Partnerships with NVIDIA, Amazon AWS, and Oracle enhance our AI and ML capabilities, providing cutting-edge tools and infrastructure for such uses.
Can you share your thoughts on how disaster recovery services are critical for energy companies during their transition to greener technologies?
Disaster recovery services are crucial for all companies, irrespective of the sector. But focusing my answer to energy companies, as they adopt new digital solutions and infrastructure, the risk of disruptions or data loss increases. Effective disaster recovery plans ensure quick recovery from unforeseen events, minimising downtime and protecting critical data.
Cybercrimes have surged dramatically, with as much as a 300 per cent increase reported in the United States alone by the Federal Bureau of Investigation (FBI) since the 2020 pandemic. Moreover, recent data by Cybersecurity Ventures – a research company specialising in the sector –projects that annual cybercrime costs will reach US$10.5 trillion by 2025.
This growing complexity and
unpredictability of cyber threats necessitate robust data backup and disaster recovery solutions for business continuity. ODP provides comprehensive disaster recovery services, including data backup, recovery solutions, and business continuity planning.
Our services safeguard data integrity and ensure operations continue smoothly during a disaster. This is vital as companies transition to greener technologies, which often involve complex, interconnected systems needing robust recovery solutions.
How does ODP address skepticism from traditional oil and gas companies about the effectiveness and reliability of cloud-based solutions in their transition to renewable energy?
This involves understanding their concerns and demonstrating cloudbased solutions’ value. Traditional companies may be cautious due to worries about reliability, security, and performance.
We address these concerns by providing transparent, reliable cloud solutions meeting high security and
performance standards. The challenge is not understanding the “what” but the “how” – how to prioritise, test, and implement these solutions. We offer free consultancy and test pads for companies to evaluate our infrastructure and services before committing, allowing them to experience cloud computing’s benefits firsthand.
Additionally, we showcase successful case studies and tangible benefits our clients have experienced with our cloud solutions. By presenting real-world examples of improved performance, cost reductions, and supported sustainability goals, we help traditional companies see the value of embracing digital transformation.
At the end, we need to realise that digitalisation is not just a trend but a powerful consequence of human need. As we transition into greener and more sustainable society, advancements in cloud computing and AI will be a testament to the commitment to a smarter, more sustainable future. Embrace the change, and innovation will drive your success.
AI, machine learning (ML), big data, and analytics are essential to the energy transition journey of Oman. These technologies offer advanced tools for data analysis, predictive maintenance, and operational optimisation
12thEdition Nominations Open Now!
The best of the best within construction, infrastructure, projects, civil engineering, real estate, design engineering and construction materials industry in Oman will be felicitated at Dossier Construction Awards.
Event Key Highlights
• Awards to key industry projects, companies and personalities
• Presentation on an upcoming large iconic project
• Attendance of over 200 industry leaders
• Networking with industry peers
Submit your Nominations
Award Categories
• Best Construction Safety Initiative
• Best MEP Contractor
• Best EPC Contractor
• Best Construction Contractor
• Best Manufacturing Company
• Global Omani Company of the Year
• Commercial Vehicle of the Year
• Excellence in IFM Services
• Best MEP Supplier
• Best Interior Design
• Best Project Design
• Best Architect
• Best Engineer
• Best Engineering Consultant
• Best Project Management Consultant
• Claims Management Consultant of the Year
• Real Estate Services Company of the Year
• Best Real Estate Project
• Best Real Estate Consultant
• Best Project Developer of the Year
• Best Sustainable Project
• Best Renewable Energy Project
• Best Industrial Project
• CEO of the Year
• Business Leader of the Year
• Business Icon of the Year
LEADING OMAN’S ENERGY SECTOR
A cross section of leaders championing the Sultanate’s energy transition efforts
Dr. Aflah Al Hadhrami
Managing Director
Petroleum Development Oman (PDO)
Ahmed Al Mahrizi Group CEO Nama Group
Prior to his appointment at PDO, he served as the CEO of Integrated Gas Company (IGC). He also served as the CEO of Alshawamikh Oil Services, where he drove exponential business growth. His professional career started with Petroleum Development of Oman (PDO), and thereafter followed increasingly important and senior leadership roles at various oil and gas organisations namely in senior supply chain management positions at Oman Refinery LLC, Schlumberger Overseas S.A, and Occidental Oil and Gas Corporation where he was VP of Middle East Supply Chain Management (VP ME SCM). Dr. Aflah also worked in BP, managing the Middle East Region as Regional Director for BP Exploration Middle East. He holds a PhD from the University of Liverpool (UK) in Business Management. He is also a member of the Royal Chartered Institute (MCIPS UK) and CILT.
the position of Group CEO of Nama Group. He earlier held the position of acting Vice President at Nama Holding, with the key responsibility to spearhead the implementation of a nationwide programme of reforming the water and wastewater sector in the Sultanate
Additionally, he was responsible for executing the initiative of privatisation of the electricity companies within Nama Group. Prior to this, Ahmed held various management positions in the telecom arena. Notably, a 10-year tenure as Vice President at Virgin Mobile Middle East and Africa, in which Ahmed played a key role in starting up new telecom businesses in multiple geographies including Oman, UAE, KSA, Jordan, Malaysia, and South Africa.
Ahmed completed his bachelor’s degree in Commerce and Economics from Sultan Qaboos University, Muscat, Oman. He has also attended executive leadership courses at IMD and other renowned institutes.
Ahmed Al-Azkawi Chief Executive - Upstream
Member of the Charted Institute of Procurement and Supply (MCIPS).
Dr. Amor Al Matani CEO, Oman LNG Development Foundation (ODF)
Dr. Amor is the CEO of Oman LNG Development Foundation. He joined Oman LNG in 2002 as Deputy CEO. After graduating from Teesside University, the United Kingdom in 1999 with a degree in Instrumentation and Control Engineer, he joined Petroleum Development Oman in upstream operations and commissioning.
In 1993, he moved to the Ministry of Health where he occupied a number of executive positions, including Deputy Director General for Administration and Finance at the Royal Hospital, Oman’s largest hospital for specialised medical care.
He completed his MBA (Newcastle) in 1997 before being appointed as Director General for Sur Industrial Estate in the Public Establishment of Industrial Estates (Madayn). Keenly interested in academics, he completed a PhD in Business Sustainability, and is a member on a number of university and technical college boards, and is the Chairman of the Board of Trustees for OLNG’s HAS school. He is also Chairman of OLNG’s Tender Board.
Ali Issa Shammas CEO Nama Dhofar Services Company
Ali Issa Shammas is the CEO of Nama Dhofar Services Company. He has vast experience in the industry and his previous roles include CEO of Dhofar Power Company and General Manager, General Cargo Terminal at Port of Salalah.
In the electricity sector, Nama Dhofar has undertaken several projects, which include the construction of primary substations and the expansion of the distribution network. The company has also activated several new electricity distribution projects for a reliable and uninterrupted supply of electricity during the Khareef season.
Ashraf Hamed Al Mamari
Group CEO, OQ
years of experience in various organisational leadership roles, including Human Resources, Corporate Affairs, and Strategic Management. He holds a Bachelor’s degree in General Management from Sultan Qaboos University and is currently enrolled in a Doctor of Business Administration (DBA) programme with Coventry University. Al Mamari has held multiple leadership positions in the energy sector in Oman and abroad. He joined OQ in 2013 as a Learning and Development Manager in one of the Company’s legacy companies, Takatuf Oman.
He then worked in OQ Exploration and Production and OQ Chemicals in Germany before leading the People, Technology and Culture function of OQ. He is also a member of the Board of Directors of Abraj since 2017 and a member of the Board of Directors of Marafiq since 2023. He was previously a member of the Board of Directors of OPAL and InstOG.
Hamed Al Naamany CEO Oman LNG
Hamed Al Naamany is the CEO of Oman LNG. Hamed assumed charge at a time when Oman LNG embarked on a two-pronged strategy designed, on one hand, to boost output through a major debottlenecking exercise coupled with the power project to reduce Greenhouse Gases (GHG) footprint; and on the other, to extend the life of the LNG business well beyond its current concession that expires in 2025. He has over 20 years in the industry, including working at Oman LNG and international roles in LNG Ventures in Europe, the United States and Canada. During his tenure, Hamed held diverse roles in Technical Operations, Production and Project Management, and Business Development.
Hamed bin Salim al Maghdri
CEO, Al Maha Petroleum Products
Marketing Company
service to its primary customers throughout Oman.
Al Maha supplies high-quality fuel and petroleum-based products to the retail, industrial and aviation markets. Its network of over 195 service stations is supported by an effective and efficient distribution organisation.
Hilal Ali Al Kharusi
Chief Executive-Commercial and Downstream, OQ
sector, Kharusi is the Vice President of Retail at OQ, and is responsible for developing and driving OQ global retail business strategy locally and internationally. He started his career with Petroleum Development Oman and Shell International managing a number of energy projects across the Middle East, CIS, Africa and Russia.
In 2016, Hamed returned to Oman LNG from international assignment to lead the LNG plant rejuvenation, Power Project and the Debottlenecking Project prior to his appointment as Oman LNG’s Chief Strategy and Transformation Officer.
As one of the three major petroleum products marketing companies operating in the Sultanate, Al Maha offers first-class customer service while providing value for money. The company strives to continually develop and improve its products and services.
Prior to joining OQ, Hilal was the Executive Vice President for Emerging Businesses at Oman Oil Company where he developed large-scale energy projects locally, managed the Group’s international M&A activities, and was responsible for managing a diverse energy portfolio. Currently, he serves as Board Chairman in Oman Oil Marketing Company and Chairman in Oman Sustainable Water Services. Hilal holds a Bachelor’s degree in Geosciences - Economic Geography in 1999 and an MBA in 2007 from the UK.
Mazin Al Lamki CEO Energy Development Oman (EDO)
Dr. Mohammed Al Balushi CEO, Shell Oman Marketing Company
Energy Development Oman (EDO) –the newly established state-owned energy firm to fund the expansion of the Petroleum Development Oman operated Block 6 concession area and the Sultanate’s energy offerings, including renewables.
Lamki, who was serving as the chief operating officer of Mubadala Petroleum earlier started his tenure as the CEO of EDO in the first quarter of 2022. Lamki has over 22 years of global experience in diverse technical, managerial and operational roles in the oil and gas industry.
He holds a Bachelor’s Degree in Mechanical Engineering from the University of Manchester, Institute of Science and Technology, UK.
Dr Mohammed Mahmood Al Balushi, CEO of Shell Oman Marketing Company SAOG, brings over 32 years of leadership experience across various sectors. He comes with a diverse expertise in corporate banking, equity financing, projects management, social investment, government relations in addition to energy sector. He is also currently serving as a board director in Shell Pakistan Limited, and was serving as an executive board member in Shell Oman Marketing, representing Global Shell Gas BV, as well as several government advisory boards and executive committees. Before becoming CEO, he was Shell Retail Country Manager and Senior Management Team member.
Dr. Al Balushi has been pivotal in driving Shell Oman’s growth and innovation in downstream technologies, while upholding the highest standards of HSSE, ethics, compliance, and sustainable ICV practices. He has led the company’s energy transition strategy, focusing on reducing carbon emissions and investing in renewable energy. His leadership aims for a sustainable energy future, balancing economic goals with environmental stewardship. Through the Powering Progress strategy, which is aligned with the country’s net zero emissions goal by 2050, his initiatives include the first solar-powered fuel station, the first EV chargers at service stations, and the introduction of carbon-neutral lubricants. He is spearheading the launch of the first green hydrogen fuel service station in Oman, which will be the first of its kind in the Middle East. His leadership has been key in the profitability of Shell Oman while navigating through different challenges, regulatory changes, internal restructuring and change programmes. Dr. Al Balushi has Doctorate in Business Administration from the UK, where he also received his MBA and a diploma in management. Additionally, he holds degrees in industrial credit and banking and financial studies.
Dr. Mohammed Al Balushi has been honoured with numerous awards, including The Exemplary Leadership Award in Oman Business Excellence Award (2020), Top Middle East CEO Award by INSEAD Business School (2019), the Best Arabian CEO in the sector by Arab Best Awards in 2018, Named among the top 50 CEOs in Oman (2018) and was awarded Shell Retail Global EVP Award in operation Excellence (2009).
Mohammed Al Shuaili CEO Phoenix Power Company
Mohammed Said Al Shuaili serves as the CEO of Phoenix Power Company since April 2022. He has over 15 years of experience in the field of electricity and water production.
Mohammed has worked extensively in the Oman electricity generation and water desalination sector, most recently as the PGM of the Ibri I IPP project and Ibri II Solar PV IPP Project.
Mohammed holds a Bachelor’s degree from Sultan Qaboos University in Mechanical Engineering and a Master’s degree in Maintenance Management from Caledonian Engineering University.
Musallam Al Maashani
CEO Al Baraka Oilfield Services
Eng. Musallam Al Maashani is a safety-conscious veteran of the oil and gas industry who easily earns the confidence and respect of engineering teams, project crews, drilling contractors, service company representatives, peers, and key decision-makers. Musallam has executive experience in both start-up and growing organisations, with a proven track record of successfully leading project operations from start to finish, both technically and commercially. He possesses extensive knowledge of current economic, social, and regulatory issues in Oman.
Eng. Musallam has been the CEO of Al Baraka Oilfield Services, SAOC, Oman since January 2016. Singlehandedly, he has been responsible through his dedication and hard work to have fueled the growth of the company over the last decade from fledgling pipeline maintenance and conventional workover rigs into one of Oman’s most respected oilfield services contractors today running elaborate pipeline/flowline erection, construction, commissioning activities along with EPC projects whilst managing a ten-strong fleet of workover Hoists in the southern oilfields in the PDO concession area.
Najla Al Jamali
Chief Executive-Alternative Energy OQ
Najla is the Alternative Energy CEO. She has more than 23 years of professional experience in various onshore and offshore upstream Oil and Gas operational roles, and managerial consultancy positions at globally recognised companies including Vale, Schlumberger, IHS Energy, Shell and Petroleum Development Oman (PDO). Prior to her current role, Al Jamali was appointed as Acting Executive Managing Director of Takamul Investment Company in 2016, and in 2020 she helped set up OQ’s Alternative Energy team where she became responsible for all Green Molecules Ventures.
Najla holds a Bachelor of Science degree with honours in Mathematics with Applied Mathematics/Mathematical Physics from Imperial College, London, and attained a Master of Science degree in Financial Management from the University of London and participated in Schlumberger’s leadership programme at INSEAD, in France.
Qais Saud Al Zakwani CEO Nama Water Services
Qais is the CEO of Nama Water services. With more than 18 years of experience, Zakwani brings a unique set of skills and utility sector knowledge, most notably in the implementation of the electricity sector restructuring and leading the Authority for Electricity Regulation as the executive director and member for six years. Zakwani has been involved with the waterrestructuring project since 2016 as a member of the water and wastewater restructuring steering committee.
Salim Al Kamyani CEO
Nama Electricity Supply Company
Siddharth Malik CEO Vulcan Green Energy
He started his career as an Economist at the Telecommunications Regulatory Authority before joining the Authority for Electricity Regulation as a Regulatory Advisor in the Office of the Executive Director in 2007. He graduated from the University of Oxford’s Said Business School with a Master’s in major programme management and holds a second Master’s degree in utility regulation from the London School of Economics.
managing people, strategic planning, financial management, establishing a new organization, performance management, project management, business improvement, and process re-engineering.
At Nama Supply he works closely with the board to build and execute the company’s strategy and financial planning, leads the company toward its vision, ensures the efficient management of the collection from the end users and timely payment to the partners in the market, oversees the performance of customer services and ensures a high level of customer satisfaction. In addition, he manages the company’s annual revenue of round RO1.2bn and ensures that the organisation follows a solid governance structure, risk management and compliance.
renewable energy developer in Oman and part of the $25bn Indiabased Jindal Group. Prior to VGE, he led Jindal Renewable Power Ltd., a renewable energy business with 12 GW of renewable portfolio comprising of solar, wind and energy storage assets under development to deliver round the clock green power and green hydrogen to decarbonise steel manufacturing. He also led the energy transition business at a NYSE-listed renewable energy developer with 7.4GW of clean energy portfolio. Malik was the founder-CEO of Megawatt Solutions, a specialist company in industrial decarbonisation solutions including concentrated solar thermal, thermal storage and electrification of industrial heat. Under his leadership, the company was ranked in the top five on a global list compiled by the International Climate Initiative.
He has more than 20 years of experience leading large businesses in areas of clean energy technology, project development, strategy, and execution. A TED speaker he has been widely covered in the media for his subject matter expertise in decarbonisation at various global forums including by the World Bank.
Dr. Wang Hua Managing Director
has a profound understanding of practices within the upstream activities in the oil and gas industry. He has been the managing director of Daleel Petroleum since 2022.
Daleel Petroleum is committed to reducing its gas emissions in order to achieve its target. The company aims to minimise any offsets in this regard. This year, it achieved a zero-routine flaring in line with its commitment towards a sustainable future. Equally important is the company’s commitment to educate and empower Daleel Petroleum’s human resources to embrace and advance in the field of new energies.
Yaqoob Al Kiyumi CEO, Oman Power and Water Procurement Company
Yaqoob Saif Al Kiyumi has over 20 years of experience in different sectors in both technical and leadership roles. He previously worked for Petroleum Development Oman (PDO) and Occidental Oman in the oil and gas industry. He also had extensive exposure in the manufacturing industry and was with Sohar Aluminum prior to joining Oman Power and Water Procurement Company (OPWP).
Yousuf Al Ojaili President, BP Oman
He is a graduate of the first cohort of the National CEO programme and obtained his bachelor’s degree in mechanical engineering from Coventry University in the UK. As the CEO of OPWP he is driving a focus on renewables.
OPWP now has a mandate from the Counsel of Financial Affairs and Energy Resources to procure 10 per cent of energy produced by renewables by 2025.
He remains active in academia serving on Sultan Qaboos University’s industrial advisory boards in the College f Engineering, as well as the mechanical and industrial engineering departments.
Prior to joining BP Oman, Ojaili was the CEO of Oman Gas Company from 2005 to 2015. He also had a long stint with Petroleum Development Oman (PDO) where he worked from 1987 to 1996 and as head of gas concept engineering from 2000 to 2005. In between, he served as senior project engineer with Shell at Brunei Darussalam.
PIVOTAL ROLE
Singapore and Malaysia as part of ASEAN in the global context
Global markets run on “narratives,” most investors are aware of the term AI for artificial intelligence. Among banks and brokers and where to make money in terms of asset allocation, AI increasingly stands for ASEAN and India.
India’s Sensex market is up +10 per cent, strongly outperforming Xi’s China where the Shenzhen composite index is down -16.77 per cent. In terms of global asset allocation, ASEAN might increasingly get more recognition and investor interest. Several ASEAN countries have successfully practiced bamboo diplomacy to navigate more challenging geopolitics and the potential impact of the US election and a possible Trump 2.0 presidency. Despite of who is in power in Washington over the next 4 years, ASEAN most probably will manage ok and do well for investors.
As of 2024, the combined GDP of ASEAN countries is approximately $3.86 trillion, with a population of about 686 million people. This gives the ASEAN region a GDP per capita of around $5,633. In comparison, India’s GDP in 2024 is approximately $3.94 trillion, with a GDP per capita of about $2,730. This places ASEAN’s overall economic size slightly below India’s, but with a higher average income per person across the region.
Year-to-date the STI strait times index is 0.15 per cent while the Malaysia KLCI index is +10.45 per cent. EWS iShares MSCI Singapore is the Republic of Singapore’s ETF on the New York stock exchange, while EWM is the iShares
MSCI Malaysia truly Asia ETF. In USD terms, Singapore so far, this year has underperformed Malaysia by -10.26 per cent, according to Bloomberg.
Mahathir Mohamad and Lee Kuan Yew were two of the most influential leaders in Southeast Asia, each playing pivotal roles in the development of their respective countries, Malaysia and Singapore. As leaders of neighbouring countries with shared histories, they often found themselves in conflict over various issues, but they also had mutual respect for each other’s leadership and nation-building achievements.
As the current king of Malaysia is the Sultan of Johor, the state neighbouring Singapore and the Island state has new leadership under the so called G4. The term “G4 leadership” in Singapore typically refers to the fourth generation of political leadership within the ruling People’s Action Party (PAP). This group, also known as the 4G leaders, consists of the younger ministers who are expected to take over the reins from the current third-generation leaders, such as Prime Minister Lee Hsien Loong.
Singapore has moved from 3rd world to 1st and has now a widely accepted passport and the island’s GDP per capita is approximately $84,734 in current US dollars. Malaysia’s GDP per capita is approximately $12,000 in current U.S. dollars. Singapore and Malaysia and in particular Johor as hinterland for Singapore could further enhance the investment story of ASEAN. Data centres in Malaysia and in JB has become one market narrative, that smart money should pay attention to.
Both Singapore and Malaysia equities underperformed global equities MSCI world over the last 5 years. As of mid-2024, the market capitalisation of Singapore’s stock market stands at approximately $590.8bn. Meanwhile, Malaysia’s stock market has a market capitalisation of around $405.3bn.
Singapore has approximately 670 listed companies on the Singapore Exchange (SGX). Malaysia has around 940 companies listed on Bursa Malaysia. Today Singapore is richer than its erstwhile coloniser the United Kingdom and investors should consider it as a developed market and part of strategic asset allocation, especially if closer economic cooperation with Malaysia can create new pockets of growth. .
Rainer Michael Preiss Partner & Portfolio Strategist at Das Family Office in Singapore
For more information, contact Shaikh Ahmed on 98049369, shaikh.ahmed@umsoman.com Zahra Santos on 93204670, zahra@umsoman.com
Reaffirming its commitment to developing national talents, Bank Nizwa recently announced the launch of its Islamic Finance Graduate Program, NANMU. This initiative, developed in collaboration with the Accounting and Auditing Organization for Islamic Financial Institutions (AAIOFI), is designed to nurture the next generation of leaders in Islamic finance and provide comprehensive professional development opportunities for employees. The official inauguration of the NANMU Program was graced by the presence of Khaled Al Kayed, CEO at Bank Nizwa, alongside Haifa Al Lawati, Chief Human Resources Officer, and distinguished representatives from AAIOFI. This initiative exemplifies Bank Nizwa’s
Oman Air Resumes Service to Zurich, Mal and Moscow for Winter Season
Reinforcing its commitment to enhancing the travel experience, Oman Air has resumed three seasonal routes for winter; Zurich (starting 5th October), Malé (starting 27th October) and Moscow (starting 29th October). With fares starting from RO88 one-way, it’s the perfect time for travelers to start planning their winter getaway. With direct flights from Muscat to over 40 destinations across Europe, the Far East, Indian Subcontinent, Africa and Middle East, and more frequencies than any other airline, guests can enjoy unmatched choice and convenience. Oman Air is also looking into increasing frequencies on its most popular routes, which will be announced soon.
Gearing up for the peak winter season, the airline offers an exciting range of travel experiences for the whole family, from the sun-soaked shores of the Maldives to the snow-capped slopes of Switzerland and the cultural and historical riches of Russia, as well as many more. Whether traveling for business or leisure, guests can take advantage of affordable fares, seamless connectivity and award-winning service.
Commenting on the occasion, Mr. Khaled Al Kayed, said, “The launch of this program is part of Bank Nizwa’s ongoing efforts to keep pace with developments in the Islamic banking sector and economic challenges by building knowledge programs derived from the latest advancements in Islamic finance. These programs contribute to continuously honing our employees’ skills, positioning them to become influential leaders within the institution. We consider investing in human capital, by fostering a culture of professional and personal growth, an essential component in building a cadre of leaders capable of making a positive tangible impact on the economy and society, and in shaping a bright future for the country.”
Enjoy World of Benefits with Bank Muscat Credit Cards and Be One of the 2024 Winners this Summer
Bank Muscat, continues to provide its exclusive travel offer for credit card holders this summer. Customers will be able to enter a draw to win RO 50 cashback when they spend a minimum of RO50 using their Bank Muscat credit cards internationally on POS (Point of Sale) machines. For every additional RO50 spent, customers will get another chance to win in the draw. Customers can still get the chance to enter the draw until August 31 to be one of the 2024 winners by the end of the campaign.
Bank Muscat launched this exclusive proposition to offer customers a memorable travel experience with summer credit cards offerings. The bank is keen to continuously develop its services and products to enhance customer experience. The suite of credit cards offered by Bank Muscat is carefully curated to fit the needs of its customers offering a plethora of benefits such as free travel insurance, rewards on spends and discounted offers across a wide range of categories including, lifestyle, health and beauty, entertainment, travel and hotel stays.
Bank Muscat Private Banking Visa Infinite Credit Card offers various rewards and benefits, including complimentary chauffeur service to and from Muscat International Airport and Salalah International Airport, airport lounge access at over 1000 lounges globally, free full multi-trip travel insurance, and 24-hour Visa Premium concierge service. The Asalah Visa Signature Credit Card
Sohar International sponsors and participates at Oman Jobs Fair 2024
Sohar International participated as the Silver Sponsor at the Oman Jobs Fair 2024 that took place recently at the Oman Convention and Exhibition Center. The event, held in collaboration with the Ministry of Labour, underscored the bank’s commitment to the national objective of workforce empowerment. The fair, themed “Empowering and Enhancing Talent in Line with Oman Vision 2040,” aimed to bridge the gap between fresh graduates, seasoned professionals, and key employers, fostering new career opportunities.
The Oman Jobs Fair 2024 was graced by HE Dr. Mona Salem Al Jardani, Undersecretary of Vocational Training at the Ministry of Higher Education, Scientific Research and Innovation, as the esteemed Guest of Honour. The event attracted senior executives from various public and private organisations. Sohar International’s dedicated booth garnered significant attention from fresh graduates, experienced professionals, and job seekers, drawn by the bank’s longstanding reputation for excellence.
Commenting on the Bank’s sponsorship, Mahira Saleh Al Raisi, Chief Human Resources Officer at Sohar International, stated, “Sohar International recognises the critical role that job fairs play in bridging the gap between job seekers and employers. These events foster career development and contribute to the national objective of workforce empowerment and economic growth. At Sohar International, we believe that human capital is the foundation for achieving strategic goals. Educating the workforce about job opportunities and ensuring the right people are matched with suitable roles is essential for holistic socio-economic progress. By supporting events like this and facilitating direct
on the other hand facilitates 12 complimentary visits to over 1,000 airport lounges worldwide. The credit card also offers one per cent cashback on purchases, free multi-trip travel insurance, and global concierge service.
interactions between potential employees and employers, we help align talent with opportunities that best fit their skills and aspirations. This alignment not only enhances individual career satisfaction and productivity but also strengthens the overall efficiency, resilience, and competitiveness of the economy.”
BILLBOARD
Alizz Islamic Bank Celebrates World Organ Donation Day
In recognition of World Organ Donation Day, Alizz Islamic Bank recently hosted the Oman Transplantation Society and the National Organ Transplantation Programme at the Alizz Islamic Bank Head Office to raise awareness about the importance of organ donation and encourage more people to pledge their organs for those in need. The event was attended by Alizz Islamic Bank leadership team, representatives from the Oman Transplantation Society and the National Organ Transplantation Programme, students from various colleges and universities and members of the public. The event falls under the health pillar of the ‘Alizz Cares’ Initiative; the Corporate Social Responsibility identity of Alizz Islamic Bank that focuses on giving back to the communities that the bank operates in.
Al Madina Takaful Visits Badr Al Samaa Royal Hospital
In our ongoing commitment to ensure the best healthcare for its insurance beneficiaries, Al Madina Takaful’s CEO, Usama Al Barwani, and Deputy CEO, Mr. Shakaib Mahmood, recently visited Badr Al Samaa Royal Hospital. This visit provided a comprehensive tour of the hospital’s state-of-the-art facilities and luxurious infrastructure, showcasing the serene healing environment and advanced medical technology.
The delegation was warmly welcomed by the hospital’s executive directors, Moiden Bilal and Firasath Hassan. The Al Madina explored key departments, including the endoscopy suite, operation theatre complex, radio diagnosis, pathology lab, VIP suites, and outpatient departments. The hospital’s seven centers of excellence—Orthopaedics, Urology, ENT, Mother & Child, Minimal Access Surgery, Gastrointestinal Health, and Emergency & Critical Care—were highlighted during the tour.
This visit aimed to build confidence in the quality of care that our insurance
The event included an informative session, discussions with medical experts, and interactive activities to engage the public in this important cause.
The foundation stone that permitted organ donation in Oman was set under Shari’a law by a Fatwa issued by His Eminence the Grand Mufti of Oman, Sheikh Ahmed bin Hamed Al Khalili in 2014. Donating one’s organs is a blessed act that saves the lives of others. Touching upon the event Ms. Lina Al Abdulsalaam, Head of Marketing & Communications at Alizz Islamic Bank said. “At Alizz Islamic Bank, we are dedicated to fostering a culture of social responsibility targeting both our employees and the public. This day is dedicated to raising awareness and increasing the number of registered donors towards this cause. By working together, we can make a real difference in the lives of patients awaiting organ transplants and offer hope to those in need through such awareness campaigns.”
beneficiaries
can expect. The firsthand experience assured us that Badr Al Samaa Royal Hospital will provide extraordinary care and top-notch facilities.
NBO hosts Sadara Priority Banking Clients at Salalah Anantara Hotel
National Bank of Oman (NBO) recently hosted an exclusive dinner event for its esteemed Sadara Priority Banking clients at the luxurious Salalah Anantara Hotel on August 6, 2024. The event was a resounding success, reaffirming NBO’s commitment to providing exceptional personalised banking experiences and fostering meaningful relationships with its high-net-worth clients.
The evening commenced with a warm welcome, followed by an insightful keynote speech. Guests enjoyed a short presentation highlighting the unique offerings of the services. The night was filled with fine dining and live music, creating an ideal atmosphere for networking and engagement. Ali Bin Mustafa Al
Exciting offers for Ahli Islamic credit card holders
As part of its efforts to provide its customers a convenient, rewarding and Sharia-compliant banking experience, ahli islamic continues its exciting offers for credit card holders. The offers provide an array of benefits in which customers may gain points every time they spend using their Gold, Platinum, Signature and Infinite credit cards internationally. This aligns with ahli islamic’s focus on tailoring sophisticated solutions to meet the needs of its discerning clientele, in tune with their lifestyles, and in accordance to their preferences. Valid until August 31, 2024, ahli islamic’s credit card holders can gain points as per their card tier. Gold credit card holders can gain 2.25 points for the equivalent of one rial spent, while Platinum credit card holders gain 3.25 points. Moreover, Signature and Infinite credit card holders gain 4 points for every equivalent of one rial spent internationally in a currency other than Omani rial. These points can be used to reap a range of rewards at a wide array of partner merchants to accommodate customers’ lifestyle needs and requirements.
Commenting on the latest offer, Noora Sultan, AGM - Head of Retail Banking at ahli islamic, said, “At ahli islamic we are keen to bring to our customers attractive offers. We believe innovation is key, seeing how our customers may use their credit cards more frequently this summer when traveling, for
Lawati, AGM - Head of Private Banking and Segments at NBO, commented on the significance of the event: “We were pleased to host this exclusive dinner for our Sadara Priority Banking clients. It was an excellent opportunity to showcase our dedication to delivering personalised wealth management services, premium benefits, and priority access to financial solutions. Our purpose is to deepen our relationship with clients and help them experience excellence by offering tailored financial advice and bespoke services that cater to their unique needs.”
NBO’s Sadara Priority Banking is designed to enhance the banking experience for high-net-worth clients by offering a range of personalised services. These include comprehensive wealth management, dedicated relationship managers, and priority access to a suite of financial solutions tailored to meet the specific needs of each client.
example, or when they carry out their daily, routine transactions. Customers can then access rewards that greatly enhance their overall experience.”
“We are constantly enhancing our rewards, keeping in mind our customers’ requirements and providing services that surpass their expectations. The new offers are one of the ways we endeavor to empower our growing customer base, as our commitment towards them increases added value, and encourages us to bring greater benefits to them,” she added.
ahli islamic seeks to enrich customers’ experiences with Shariacompliant financial solutions. This initiative not only provides unparalleled benefits and rewards but also aligns with ahli islamic’s customercentric ethos. Furthermore, it exemplifies ahli Islamic’s commitment to extending Islamic banking excellence to diverse segments.
BREAKTHROUGH TECH
As the race towards sustainable energy intensifies, the automotive industry is on the brink of a technological revolution: the rise of lithiumsulfur (Li-S) batteries. Alvin Thomas writes
With the automotive industry seeking more efficient and sustainable energy solutions, lithium-sulfur (Li-S) batteries have surfaced as a compelling alternative to conventional lithium-ion technology.
These batteries are gaining attention as a potential game-changer in the field of energy storage, particularly for electric vehicles (EVs). Unlike traditional lithium-ion batteries, which rely on either lithium cobalt oxide or lithium iron phosphate as their primary components, Li-S batteries use sulfur in the cathode and lithium metal in the anode.
In a battery, two key components work together to store and release energy: the cathode and the anode. These parts are crucial in how a battery functions,
and understanding them helps explain how different battery technologies, like lithium-sulfur, work.
The Cathode
When discharging, the cathode is the positive electrode in a battery. And when the battery is being used, it attracts electrons from the external circuit, which is part of the flow of electricity. In traditional lithium-ion batteries, the cathode is typically made from materials like lithium cobalt oxide or lithium iron phosphate. However, in lithium-sulfur (Li-S) batteries, sulfur is used as the cathode material.
The Anode
In this phase, the anode is the negative electrode in a battery and plays a complementary role to the cathode. When the battery is discharging, the anode releases electrons into the external circuit, generating electricity. In lithium-ion batteries, the anode is usually made from graphite. In contrast, lithium-sulfur batteries use lithium metal as the anode.
How They Work Together
In simple terms, when you use a battery, lithium ions move from the anode to the cathode through the battery’s electrolyte (a medium that allows the flow of ions), while electrons flow through the external circuit, providing power to your device. When the battery is recharged, the process is reversed, and the lithium ions return to the anode.
This composition offers several advantages that could redefine the standards for battery performance and sustainability.
One of the most significant benefits of lithium-sulfur batteries is their energy density. This refers to the quantity of energy able to be stored and restored during the operation of the equipment. Li-S batteries reportedly have the potential to deliver up to two times the energy density of conventional lithiumion batteries.
This means that electric vehicles powered by Li-S batteries could achieve greater ranges on a single
charge, addressing one of the key concerns of EV consumers – range anxiety. Currently, an average EV could travel up to 480kms on a single charge. This could significantly increase upon the introduction of Li-S batteries. In addition to enhanced energy density, Li-S batteries are also lighter, which could further improve the efficiency and performance of EVs.
The environmental impact of lithium-sulfur batteries is another critical factor driving interest in this technology. The use of sulfur, which is abundant and inexpensive, reduces the dependency on critical minerals like cobalt, nickel, and manganese – materials that are not only costly but also associated with significant environmental and ethical concerns.
By eliminating the need for these minerals, Li-S batteries could offer a more sustainable and ethical supply chain, with a lower carbon footprint compared to lithium-ion batteries.
Moreover, the production process for Li-S batteries can be more environmentally friendly. For example, Lyten – a growing power in battery R&D – has lithium-sulfur batteries that incorporate their proprietary 3D Graphene, a material derived from carbon captured from methane. This approach not only enhances the performance of the battery but also contributes to reducing greenhouse gas emissions.
However, despite their promise, lithium-sulfur batteries are not without challenges. One of the primary issues has been the cycle life – Li-S batteries traditionally degrade faster than lithium-ion batteries, limiting their lifespan. Recent advancements, such as those made by companies like Lyten, have focused on improving the durability and stability of these batteries to make them more commercially viable.
As research and development continue, lithium-sulfur batteries could play a pivotal role in the future of energy storage. Their high energy density, reduced environmental impact, and
potential for cost-effective production make them a compelling option for next-generation electric vehicles and other applications requiring efficient, large-scale energy storage.
If these batteries can overcome the remaining technical hurdles, they could be the key to unlocking the full potential of electric mobility and a more sustainable energy future.
That said, Lyten has already advanced the conversation by shipping its first lithium-sulfur A sample cells to major automotive OEMs, including Stellantis, and other significant players in the U.S. and EU markets.
Lyten’s manufacturing process, already underway in San Jose, CA, is set up to produce these cells using semiautomated pilot lines, with further scalability in mind. The company has also extended its lithium-sulfur batteries for evaluation in sectors beyond automotive, including consumer electronics, defense, and aerospace.
With the first giga-scale manufacturing facility in development, Lyten is poised to meet the growing demand for more sustainable and locally sourced battery solutions. As the world moves towards mass electrification, lithiumsulfur batteries may represent the next significant leap in battery technology, offering a viable path to achieving netzero goals.
This new journey – from concept to commercial viability – reflects a broader industry trend towards innovation in energy storage, especially in the automotive sector, whose market size was valued at US$49.70bn in 2023 and is projected to grow from US$52.44bn in 2024 to US$82.90bn by 2032, exhibiting a CAGR of 5.9% over the 2024-2032 period, as per a report published by Fortune Business Insights.
The successful integration of these batteries into EVs and other applications could mark a significant shift in the pursuit of greener and more efficient energy solutions that for once, are not just viable, but reliable too.
Thank you All
We would like to thank the endorsing bodies, sponsors and participants who contributed to the success of this event
Keynote Speaker
His Excellency Dr Ahmed Mohsin Al Ghassani Chairman, Dhofar Municipality
Dr. Hilal bin Abdullah Al Hinai Chairman, Board of Directors, Oman Manufacturers Association
Raysut Cement Company
Chairman of the Omani Real Estate Association
CEO, Credit Oman
Evergreen Gulf Recycling Hub
Dhofar Municipality
PERFORMANCE MEETS LUXURY
Lthe way: the BYD Han is almost too good to be true.
An electric sedan with 509 horsepower, seating for five, cuttingedge technology, and a tested range of 521 kilometers is a feat that’s nearly unheard of, requiring some time to truly grasp. Is this the new normal? Perhaps. And if the Han is indicative of what’s to come, we’re incredibly excited to see what the automotive sector has in store for the coming years.
BYD’s re-entry into the Oman market this year is both inevitable and timely, now represented by Saud Bahwan Automotive as the official dealer. With a completely reimagined brand identity, this new BYD moniker will exclusively offer EVs and hybrids. The lineup is strong, featuring three sedans and two crossovers.
Our focus in this review is the carmaker’s flagship model – the Han –and we couldn’t help but wonder how
market as it has in regions across Europe and Asia.
The Han is an intriguing sedan in every sense of the word – and its design language is unique within its segment. The fastback-style layout gives the car a wide, long stance, further accentuated by an overall remarkable design attitude.
The front fascia is striking, featuring a thick chrome strip flanked by
adds an aggressive touch to the sleek hood, while the bumper, with its chisels and intake – presumably for cooling the battery system – gives the car a more traditional appearance, setting it apart from some of its blander American counterparts.
Meanwhile, the clamshell hood seamlessly transitions into the doors with sharp lines and creases that aid in smooth airflow. BYD’s choice of retractable door handles that sit flush with the body also enhances the aerodynamic profile, resulting in a superior coefficient of drag of 0.23 – a whole Cd lower than some competitors from Italy and on par with sports cars from the same region. Little wonder then that the Han is an iF Design Award winner.
At the rear, an LED lightbar cuts into the muscular hunches on the rear bumper, complementing the flared design. We particularly appreciated
beautifully with the blue paint of our test car. The car was also equipped with 19-inch alloy wheels wrapped in 245/45 Michelin Pilot Sport 4 tyres.
This attention to detail extends to the interior as well. The fit and finish are top-notch, with high-quality (possibly Nappa) leather cladding on all surfaces you’d typically touch. The interior lighting options and a futuristic design language further enhance the cabin’s overall feel.
The seats are cushy, offering excellent lumbar support and side bolstering. They can be adjusted via buttons on the lower corner of the seats or fine-tuned using the touchscreen. Ventilated and supportive – during our test drive – they provided exceptional comfort even during high-speed cornering.
Technology is integrated throughout the Han, starting with a massive
15.6-inch touchscreen that can physically switch between landscape and portrait modes with the push of a button. The UX and UI is reminiscent of a flagship smartphone, with slick animations and the fastest page load times we’ve seen in this segment. It also takes control of all in-vehicular functions you can possibly think of. While we would have preferred physical HVAC buttons, the screen offers fuss-free access to all controls, with options for fine-tuning airflow and cabin air quality.
We also appreciated the 12.3inch multi-function display on the instrument cluster. There are numerous informative pages to choose from, easily accessible via buttons on the steering wheel. However, we often found ourselves relying (almost solely) on the wellmapped head-up display, which shows speed, navigation, and various safety graphs.
In-car entertainment is managed by 12 Dynaudio speakers, providing a variety of acoustic adjustments. While we did find ourselves tweaking the manual controls to fine-tune the sound, once set, the speakers delivered impressive low-end bass and crisp treble notes, comparable to what you’d expect from any luxury sedan available today.
Inside, the Han offers plenty of space, with ample leg and headroom even in the back for those up to 6 feet tall. The sloping roofline doesn’t compromise interior space, and we commend the use of soft-touch materials in areas where your legs and hands would normally rest while driving. The reclining rear seats, complete with a 7-inch touchscreen on the center armrest, allow for easy control of HVAC, entertainment, and other in-vehicle functions. All of this can also be managed via the in-built voice assistant by saying, “Hi, BYD.”
Under the hood, the BYD Han is powered by an 85.4 kWh battery that drives a dual-motor setup, delivering 509 horsepower and over 700 Nm of torque to all four wheels. The car
accelerates from 0 to 100kph in just 3.9 seconds. And unlike some cars in the segment that cut power to the motors after a couple of spirited runs, the Han does the standing drag pull with the same intensity every single time. This can be attributed to the highly potent BYD Blade Batteries. But more on them later.
The instant torque delivery makes for thrilling acceleration, and the low center of gravity helps the car tackle corners with confidence. While it feels sure-footed and heavy during linear acceleration, the sedan remains composed during high-speed cornering, with minimal understeer thanks to the Vehicle Dynamic Control (VDC) system.
We could notice a bit of yaw when you initially swivel corners – but it’s quickly dialed down by the electronic nannies that pull the car into line by vectoring torque to the wheels that have the most grip. That said, we’re almost positive you can eke out some tyre smoking oversteer action if you disable the safety tech (albeit, we would strongly advice against it).
However, within traffic limits is where the Han truly shines. Settle into the 100-kph range, and you’ll find that the adaptive suspension keeps the cabin stable, even on undulating surfaces. The steering is light enough in ‘Comfort’ mode and offers decent feedback – something we rarely
experience in EVs. The steering rack is among the best we’ve encountered in a long time. Special recognition must also go to the Brembo brakes, which are almost never required during normal driving. But when used, the brakes (which surprisingly doesn’t hide the perforated discs and brake caliper covers) are incredibly linear and offer the perfect degree of bite when you really need the stopping power.
The BYD Han also comes equipped with autonomous driving features, which work seamlessly with the Advanced Driver Assistance System (ADAS) to ensure a safe and comfortable ride. The system is brought to life with Intelligent Adaptive Cruise Control, Automatic Emergency Braking, Blind Spot Detection, Front-Collision Warning, Cross-Traffic Braking, and Lane Centering Control.
Our real-world test showcased that it is quite intuitive. The car rarely deviated from its lane and stayed close to the road markers, while consistently monitoring the vehicles ahead. The system isn’t abrupt, unlike some other EVs we’ve tested, and seamlessly integrates into one’s driving style, providing a smooth and confident driving experience.
On the safety front, the sedan offers surround airbags, Adaptive Front Lighting system, ABS, EBD and a host
of other systems. The car also comes equipped with BYD’s award-winning Blade Battery technology. It’s a system that has demonstrated exceptional safety during nail penetration tests, emitting no smoke or fire and maintaining a surface temperature of only 30 to 60°C. In comparison, a ternary lithium battery will exceed 500°C and burn violently, while conventional lithium-iron phosphate batteries will consistently reach 200 to 400°C, posing fire risks.
This suggests that EVs equipped with this technology are far less likely to catch fire, even under severe damage. Additionally, reports suggest that the Blade Battery can withstand extreme conditions like being crushed, bent, heated to 300°C, and overcharged by 260 per cent without causing any risks.
As EVs become the new normal, BYD is ensuring that they are not just part of the conversation but are leading it, driving the industry forward with innovation, safety, and performance at the forefront.
With its combination of cutting-edge technology, luxurious comfort, and exceptional performance, the Han not only meets but exceeds expectations for what an electric vehicle can achieve. It’s a car that challenges the status quo and offers a glimpse into the future of automotive innovation.
A DECADE OF EXCELLENCE
COMING SOON ! DECEMBER 2024
Energy Development Oman is shaping the nation's energy future by building on its rich oil and gas heritage while embracing the promise of renewables. Aligned with the country’s ambitious goals, EDO is leading the transition towards a sustainable energy landscape, ensuring Oman remains a key player on the global stage.
