In the News

Creating enduring values

Date: 10/02/2016

Company: GlassPoint

Source: Oman Economic Review

Rod MacGregor, president and CEO, Glass Point highlights the company’s vision to create long-term value for Oman and its people and to accelerate the country’s plans for economic diversification.

GlassPoint Solar is the leading supplier of solar to the oil and gas industry. Operating worldwide from the Middle East to California, GlassPoint’s enclosed trough technology delivers the lowest cost energy to power oilfield operations. By harnessing sunshine, instead of burning natural gas or other fuels, GlassPoint helps oil producers reduce operating expenses while significantly cutting greenhouse gas emissions.
GlassPoint established its regional headquarters in the Sultanate in early 2012. Talking about the contribution of the company to Oman’s long-term social and economic development, Rod MacGregor, president and CEO, says: “We are committed to creating long-term value for Oman and its people. Developing a strong and experienced local workforce is a core priority for GlassPoint. Continuing to source our requirements from local contractors and SMEs is also part of a joint commitment with our partners Petroleum Development Oman (PDO) to increase In-country Value (ICV).”

He furthers, “Since being awarded our flagship project Miraah in July 2015, we have more than tripled our Omani workforce, and are sourcing about 40 per cent of our project requirements from the local market. We aim to lift it to 80 per cent as we move ahead on our journey and win more projects in Oman and in the region.”

Once complete, Miraah, which will be one of the world’s largest solar plants of its kind, will produce 6,000 tonnes of steam per day using the sun’s energy, instead of using natural gas as a fuel source. Steam is required to extract heavy oil at PDO’s Amal oilfield through a technical process known as thermal enhanced oil recovery (EOR). By using solar steam, Miraah will save Oman 5.6 trillion British Thermal Units (BTUs) of natural gas each year. Such substantial amount of gas savings will definitely contribute in accelerating the country’s plans for economic diversification. The gas diverted from the oilfield will either be exported or used for higher value applications such as power generation, and feedstock to fuel other critical industries. More gas available means more new industries will be created, which in turn will generate more employment opportunities and increased activity to diversify the local economy.

The project is also expected to reduce carbon emissions by over 300,000 tonnes annually, the equivalent of taking 63,000 cars off the road, contributing to a cleaner environment.

Socially impactful initiatives

In February 2016, GlassPoint announced a strategic partnership with local corporate social responsibility (CSR) and sustainability experts, Sustainable Square Oman. The company is working with Sustainable Square to create its social investment strategy and launch new programmes that best serve the Sultanate and the Omani people.

Read full story at Oman Economic Review

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