DOHA: Qatar Petroleum’s localisation initiative “Tawteen”, launched on February 18, 2019 had a large participation of official bodies and entities, energy sector companies, and a wide spectrum of service providers and supporting industries.
Tawteen offers new business opportunities for investors. These opportunities are largely in the supply chain of the Energy sector companies; in addition, Tawteen is offering investors opportunities for manufacturing value added products using feed stocks available from the Energy sector in Qatar.QP encourages suppliers and new investors especially Small and Medium Enterprises
Tawteen received a significant turnout of around 1,500 applications through its investor portal from local investors and global leading suppliers for about 100 new investment opportunities it offers in various fields including engineering services, maintenance, repair & overhaul (MRO), digital technologies, subsurface operations, chemicals and metals, as well as light equipment, business services & other services across the energy sector supply chain, QP announced yesterday.
Applications are currently under review by Tawteen’s dedicated evaluation team. Tawteen will respond to accepted applicants to proceed with the next stage of the pre-tendering process in the fourth quarter 2019.
The success of Tawteen’s earlier phases is a crucial step in actualizing the vision of Qatar Petroleum towards a resilient localized supply chain, economic diversification and self-reliance. The evaluation of the submission and award of opportunities to selected investors is undertaken based on a robust governance process that is designed to ensure fair competition between all interested investors. The award of such opportunities is planned to commence in the first quarter of 2020.
The investment opportunities are only one aspect of Tawteen’s efforts intended to increase the local capabilities in services and light manufacturing supporting the energy sector.
