Agreement Inked to Build Oman’s
First Locally Manufactured Tugboat

Muscat, 25 Jan 2026 (ONA) — A strategic
agreement to build Oman’s first locally manufactured tugboat for Oman LNG was
signed today between Asyad Drydock, a subsidiary of Asyad Group, and Svitzer.
The project is a key milestone for Oman’s maritime industry, strengthening national
industrial and maritime capabilities by localizing high-value marine assets.

The signing ceremony was held under the patronage of Abdulsalam Mohammed
Al Murshidi, Chairman of Oman Investment Authority (OIA).

The ceremony was attended
by Hamed Mohammed Al Numani, CEO of Oman LNG; Ahmed bin Ali Al Balushi, CEO of
Asyad Drydock and Infrastructure Services at Asyad Group; and Karim Cordahi,
Executive Director for the Middle East and North Africa at Svitzer.

This project builds on the long-standing partnership between
Oman LNG and Asyad Group, based on shared roles across Oman’s energy, logistics
and maritime ecosystem. It takes this partnership beyond operational, marine
and logistics services into a more advanced phase of industrial collaboration. The
project also reflects Oman LNG’s focus on In-Country Value and the technical capabilities
of Asyad Drydock.

On this occasion, Al Murshidi commented: “This project signifies
a pivotal new phase of integration within our national investment ecosystem. It
underscores our strategic imperative to localize the construction and execution
of strategic assets in Oman. The selection of Asyad Drydock for this critical
marine asset is a testament to the advanced state of the national industrial
capabilities. Furthermore, it demonstrates the profound confidence our national
companies place in local platforms to deliver high-value assets that meet the
most exacting international standards. This initiative is in direct alignment
with OIA’s mandate to channel investments into sustainable industrial
ecosystems that enhance in-country value and foster the long-term, robust
growth of our national economy.”

On his turn, Hamed Mohammed Al Nu’amani, CEO of Oman LNG, said: “From
the start, Oman LNG was clear that building the tugboat locally, supported by
Asyad Group’s investment, should go beyond delivering an operational asset. It
should strengthen our country’s maritime legacy and connect it to our business.
That is why Asyad has always been our strongest partner. By making local
construction a core contractual requirement, we ensured the project contributes
directly to national capability building and knowledge transfer. It also
supports future growth linked to the marine and shipbuilding industries. This
is fully aligned with our firm commitment to In-Country Value.”

He added that this project underscores the increasing confidence
placed in Asyad Drydock’s profound technical expertise, state-of-the-art
infrastructure, and highly qualified national talents. It serves as a powerful
demonstration of the company’s capability to execute complex ship repair,
shipbuilding, and major marine engineering projects in Oman, consistently
adhering to the highest international standards.

For his part, Ahmed Ali Al Balushi, CEO of Asyad Drydock and
Infrastructure Services at Asyad Group, stated: “Asyad Drydock serves as a
national industrial platform for localizing the construction of high-value
marine assets in Oman. We are guided by a sustainable approach aimed at
maximizing local content. Th project is planned to achieve 50% local content.
In 2025, our total local expenditure reached approximately RO 46 million, of
which RO 7.777 million was directed to local SMEs. This underscores our
unwavering commitment to empowering national businesses and strengthening local
industrial capabilities.”

This initiative, he affirmed, also reflects Oman LNG’s approach
to turning In-Country Value commitments into measurable results. It does so by
embedding ICV into contracts and operating models to maximize local economic
impact and generate jobs, as Omanization among service and business partners
has exceeded 85%. In addition, 79% of total supply chain spending has been
directed to locally registered companies.

— Ends/AH