MEM FAQ's

What does enhanced productivity mean? What are its expected outcomes? And what are the available opportunities after its application?

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ICV FAQ

What is In-Country Value (ICV)?

What is In-Country Value (ICV)?

In Country Value (ICV) is defined as the total spend retained in-country that can benefit business development, contribute to human capability development and stimulate productivity in the Omani economy. In short, products made and services provided by skilled Omanis.

What are the key objectives of the ICV?

What are the key objectives of the ICV?

  1. Increasing Omanisation and developing the skills of national workforce.
  2. Increasing in-country spend on local goods and services.

What is ICV Blueprint Strategy?

What is ICV Blueprint Strategy?

A comprehensive study aimed to build on the successes to date, identify new opportunities and develop a broad roadmap that will contribute to strengthening the efforts of oil & gas sector in the field of ICV development.
The summary of the ICV Blueprint Strategy can be viewed and downloaded by selecting “Downloads”, followed by “General” and then selecting “ICV Development Blueprint Strategy” or “ICV Brochure”.

What are the ICV elements?

What are the ICV elements?

It consists of the following seven elements with an overarching aim of maximising ICV in the oil & gas sector. These elements are molded into a standard ICV Plan, which is explained in the following FAQ.

  1. Investments in Fixed Assets
  2. Omanisation in the Work Force
  3. Training of Omanis
  4. Local Sourcing of Goods
  5. Local Sourcing of Subcontracted Services
  6. Development of National Suppliers
  7. Development of National Training, Education and R&D Institutions

What is an ICV plan?

What is an ICV plan?

Plan prepared by the contractor as part of tender submission and supported by a binding document governed by set of terms and conditions to be implemented during the contract period.
The ICV Plan can be viewed and downloaded by selecting “Downloads”, followed by “General” and then selecting the file “Standardisation of ICV Requirements in C & P“.
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Minerals FAQ's