Raoul Restucci
, Managing Director,Petroleum Development Oman
Rising a rank higher in this year’s Power 50 list is Raoul Restucci, managing director of Petroleum Development Oman (PDO). The Omani state-owned company has undertaken a successful operational excellence campaign, termed ‘Every Rial Counts’ according to Restucci, to make the organisation more cost-efficient.
As part of the strategy, PDO is targeting savings of around $3bn over a five-year period through cost optimisation, waste elimination and efficiency-driven initiatives, which include a programme of Contract Optimisation Reviews that PDO has adopted in collaboration with its sizable contracting and vendor communities.
With regards to upstream activity, PDO has awarded Kentz Overseas Company WLL, a wholly-owned subsidiary of SNC-Lavalin, a five-year commissioning support services framework agreement, under which Kentz will provide a variety of systems completions, commissioning and start-up service activities on a portfolio of PDO’s oil and gas megaprojects, including the Rabab Harweel Integrated Project and the Yibal Khuff Project.
Like every other socially responsible GCC NOC, PDO has also taken up the task of creating jobs in the Sultanate. It has announced a drive to create 50,000 jobs in the non-oil sector, and has signed 15 MoUs with several public and private entities. Along with the industry partners, PDO is sponsoring the vocational training of about 1,200 young Omanis.
