Petroleum Development Oman (PDO) is targeting savings of around USD3 billion over a five-year period through cost optimisation, waste elimination and efficiency-driven initiatives, according to a high-level official of the majority government-owned oil and gas producer. Haifa al Khaifi, Finance Director, said the savings are being accrued as a result of, among other initiatives, a sweeping programme of Contract Optimisation Reviews that PDO has undertaken in collaboration with its sizable contracting and vendor community. (Oman Observer)
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