Oman LNG has signed a strategic agreement with Asyad Drydock, a subsidiary of Asyad Group, and Svitzer to build Oman’s first locally manufactured tugboat, marking a major milestone in strengthening the nation’s maritime and industrial capabilities through localized high-value marine assets.
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.
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.
Oman LNG and Asyad Group take 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.
Abdulsalam Al Murshidi President – OIA
“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.”
Hamed Mohammed Al Nu’amani, CEO of Oman LNG, affirmed that, “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 the project highlights growing confidence in Asyad Drydock’s technical expertise, advanced infrastructure, and skilled national talent, showcasing its ability to deliver complex shipbuilding, repair, and marine engineering projects to the highest international standards.
Image credits: ONA | Cropped by GBN
Ahmed Ali Al Balushi, CEO of Asyad Drydock and Infrastructure Services at Asyad Group, said Asyad Drydock acts as a national hub for building high-value marine assets in Oman, with a focus on sustainability and maximizing local content. The project targets 50 percent local content. In 2025, local expenditure reached around $119.5M (RO 46M), including $20.2M (RO 7.777M) spent with local SMEs, reflecting a strong commitment to empowering national businesses and industrial capabilities.
He added that the initiative mirrors Oman LNG’s strategy of turning In-Country Value into tangible results, embedding ICV in contracts to boost the local economy and jobs. Omanization among partners has exceeded 85 percent, and 79 percent of total supply chain spending went to locally registered companies.
