We are proud to pioneer corporate social responsibility (CSR) in the Sultanate of Oman, which brings sustainability to our projects by ensuring a total of 1.5% from Oman LNG’s net income after tax (NIAT) are earmarked annually to invest in sustainable programmes.
These projects are run through Oman LNG Development Foundation (ODF), and are subdivided into the following cateogries:
A Community Fund targeting initiatives related to the Sur Community where its world-class, three-train liquefaction plant is located
A National Fund that covers a large swath of the company’s social development programmes across the nation.
A Reserve Fund to ensure continuous financial sustainability for current and future CSR projects and programmes
The Community Fund provides financial support for the community in Sur, home to Oman LNG’s plant and its neighbours. Programmes, projects and initiatives executed under this fund have played a major role in fostering healthy relations among the people of Sur and surrounding communities. The initiatives have also enabled the growth of trade and commerce in vocations that are at the heart of the society’s existence. Occupations like fishing and boat building evolved over the years and shaped Sur’s coastal proximity, this field has grown in scope with the use of modern technologies that promote them.
The National Fund is for the purpose of funding programmes, projects and initiatives that go beyond the community where the company’s world-class liquefaction plant is located. This fund comprises three focus areas: Human Resource, National Projects and Sponsorship and Donations. Initiatives executed under the National Fund are spread across all governorates in the Sultanate of Oman and are intended to have a wide beneficial impact on its people, improving the quality of life across the nation.
The Reserve Fund addresses the sustainability of the CSR programmes. The revenues acquired to fund these programmes are resourced through the export of Oman LNG’s cargoes produced from harnessing the country’s natural gas resources. A third of the funds are earmarked annually to invest in the Foundation’s CSR efforts and secure the sustainability of the CSR programmes.
Annually, these funds equate to 1.5% of Oman LNG’s net income after tax (NIAT). The company’s investment in carefully considered initiatives and programmes support the government’s ambition to improve the quality of life for the Omani people. With the future unknown, the Reserve Fund will enable the sustainability of programmes and initiatives already underway and safeguard the perpetuity of CSR efforts for Oman in the future.