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Posted On: 9 December 2019 09:49 am
Updated On: 3 March 2020 12:00 pm

Qatar Petroleum to implement In-Country Value Policy in the Energy sector starting January 2020

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Qatar Petroleum has announced the implementation of the In-Country Value Policy in the Energy Sector starting January 2020 through "Tawteen", the localization program for services and industries in Qatar's energy sector.

The ICV Policy will impact the tendering and awarding process, where suppliers and contractors who are contributing the most to the local economy will acquire a commercial advantage.

Tawteen has announced holding five awareness sessions for suppliers to obtain the necessary ICV Policy knowledge. Each session will enable the participants to gain greater insights on ICV and how it integrates into the procurement process. Participants will also be introduced to the ICV scorecard and how to certify it.

The first three sessions were attended by around 500 representatives of suppliers and contractors providing a wide range of products and services to Qatar's energy sector. Following each session, the attendees had the opportunity to meet and interact with ICV Certifiers, which are independent accounting firms appointed by Tawteen to validate and certify the ICV scores.

In his comments regarding the In-Country Value, HE the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum Saad Sherida Al Kaabi said: "The In-Country Value policy is an integral component of the Tawteen program and will drive the localization agenda in Qatar's energy sector, thus building the foundation for a highly resilient and competitive supply chain. The implementation of this policy will also go a long way in developing the capabilities of local suppliers as well as in promoting investments for the benefit of the whole energy sector."

Led and initiated by Qatar Petroleum, the Tawteen program primarily aims to foster the development of the energy sector's local supply chain and to expand the small and medium enterprises based in Qatar. The program currently offers investment opportunities for various fields, including engineering services, maintenance, repair, and overhaul (MRO), digital technologies, subsurface, chemicals, and metals, as well as light equipment, business services, and others.

Source: Qatar News Agency-QNA

Image Source: Qatar Petroleum/Facebook