TOCO is committed to creating and enhancing In-Country Value (ICV). ICV is defined as the total spend retained in country that benefits business development, contributes to human capability development and stimulates productivity in Oman’s economy. TOCO’s primary objective is to utilize Omani resources wherever practically possible such as local suppliers, local community contractors (LCC) and local subcontractors.
TOCO’s strategy of increasing local spend has been very successful, with the consistent achievement of targets set.
TOCO is committed to creating and enhancing In-Country Value (ICV). ICV is defined as the total spend retained in country that benefits business development, contributes to human capability development and stimulates productivity in Oman’s economy. TOCO’s primary objective is to utilize Omani resources wherever practically possible such as local suppliers, local community contractors (LCC) and local subcontractors.
TOCO’s strategy of increasing local spend has been very successful, with the consistent achievement of targets set.
Delivering social performance
ICV forms a part of our approach to delivering social performance in our operations and across our projects. As such, our guiding principles and governance are set out by our policies and articulated through all of our wider systems, processes and actions. We also recognise that ICV includes not only the positive impact made on a country as a whole but also that made locally in the community.
One of the leading employers of Omani nationals
TOCO remains one of the leading private sector employers of Omani nationals in the Oil and Gas contracting sector. During recent years, we have provided employment to more than a thousand Omani nationals and more importantly, provided on the job training to over 120 Omanis to become tradesmen (Welders, Pipe Fitters, Fabricators, Riggers, Grinders, Scaffolders) to work in various oilfield locations.
TOCO’s Omani development strategy
Since 2016, an internship programme for Omani Engineering students was started in addition to offering a structured Graduate Trainee Programme and placements for young Omani graduates. TOCO’s Omani development strategy involve deploying Omani Graduate Trainees to work alongside experienced professionals under our ongoing and future projects. This may provide them enough familiarity and hands-on experience to progress towards undertaking more autonomous and skilled roles. It is TOCO’s intention to offer continued job opportunities and development of the Omani work force through direct employment, by engaging LCCs, supporting SMEs and through ICV spending.
Our ICV strategy
Our strategy is to create pragmatic and relevant programs, tailored to specific projects and service departments in support of our customers, which facilitates the development of Omani nationals and industry by focusing on increasing their capability in line with ‘best practice’. This strategic approach will generate cohesive, sustainable outcomes for Oman in line with its definition of ICV.
TOCO is one of the oldest and leading Oil and Gas local contractors, serving Oman with pride since 1965. Since laying the first oil flow line in Oman, TOCO has been fueling the Oil and Gas sector growth by working alongside both National and International oil companies delivering key projects, promoting HSE and quality along with providing development and employment opportunities to Omanis and being a major contributor to the In-Country Value (ICV).