CEO: Mr. Khalid bin Abdullah Al Massan
Establishment date: July 2015 (Established and recognized by Omani Government since 2011)
Type of Foundation: Development Foundation (CSR, Sponsorship, Donation, Branding, Communication)
Focus Region: Oman
Sectors: Infrastructure, Health, Education, Environment, Safety, Human Resources Development, SME, Entrepreneurship, Heritage & Culture, and sports and Youth Development initiatives
Oman LNG embarked on its Corporate Social Responsibility since inception, where it has allocated 1.5% of its annual Net Income After Tax (NIAT).
The programme reached the length and breadth all over Oman; its aim to contribute to the socio-economic development of the country. The journey reached a significant milestone in 2011, when the Sultanate of Oman’s Cabinet of Ministers approved the company’s request to establish a social development foundation. Later, a Ministerial Decision was issuedapproving the establishment of the Oman LNG Development Foundation, while outlining and detailing the mandate and proposed business activities of the organisation. This license to operate was the first of its kind issued to an Omani company.
Oman LNG Development Foundation will continue to invest the 1.5% of Oman LNG’s net income after tax (NIAT) contribution to social development on sustainable programmes. The Foundation will be in a better place to conduct the necessary studies to serve and develop communities, while maintaining the existing levels of support established through the framework of Oman LNG’s Corporate Social Responsibility (CSR).
- Become a role model for CSR globally and make Omanis proud of the contributions;
- Create a new concept for CSR (income/sustainability) in Oman; and
- Be a pioneer as a sustainable CSR foundation and advance the overall image/brand of Oman LNG and its shareholders.
Create a sustainable income stream and provide financial support for projects, initiatives and programmes for the benefit of the local community in which Oman LNG operates as well as communities in other governorates in Oman.
The objectives of the Foundation are to be a world class CSR Foundation, Focus on innovation and CSR creativity and provide financial support to programmes, projects and initiatives aimed to benefit and advance the society of Oman with a focus on the sectors highlighted above.
- Community Fund ( targeting initiatives related to the communities of Sur area, where Oman LNG’s world class liquefaction plant is located;
- National Fund ( covering a large swath of the company’s social development programme including sponsorship & donations, national projects, and human resources development;
- Reserve Fund ( addressing the sustainability of CSR programme, where a third of the funds are earmarked annually).