Majd Award Launched to Boost Local Content: What It Means for Businesses and Investors in Oman
MUSCAT: The Ministry of Energy and Minerals has announced the launch of the second edition of the “Majd” Award for Local Content, a key initiative aimed at boosting domestic participation within the energy and minerals sectors.
This award is part of the broader Majd programme, which encourages companies and institutions to implement initiatives that support the national economy and enhance the competitiveness of strategic sectors, aligning with the goals outlined in Oman Vision 2040.
The ministry’s objective through this initiative is to strengthen the local content ecosystem by empowering national companies and local supply chains, fostering innovation, promoting industrial investment, and developing human capital across the Sultanate.
The Majd programme focuses on increasing the economic value generated by the energy and minerals sector by prioritizing the involvement of Omani talent, encouraging the use of locally manufactured products and services, and supporting domestic investments in industrial assets and projects.
The second edition of the award includes four main categories:
- Best Omani Startup of 2026
- Best Human Capital Development Initiative in the Energy and Minerals Sector
- Best Local Content Programme for Large Companies
- Best Local Manufacturer in the Energy and Minerals Sector
These categories aim to recognize efforts that build national capabilities, empower local suppliers, promote innovation and domestic manufacturing, and support the growth of resilient national supply chains in key sectors.
Companies and institutions operating within the energy and minerals sector are invited to apply for the award. The submission window is open until April 9, 2026, with winners set to be announced during Oman Sustainability Week and the Oman Petroleum and Energy Conference.
Since its inception, the Majd programme has achieved significant milestones: the local content ratio has doubled to 30.6%, over 100 industrial facilities and workshops have been established, and multiple industrial projects related to the energy sector—such as the manufacturing of drilling equipment, rigs, drilling materials, and pipeline platforms—have been supported.
Additionally, spending on small and medium enterprises (SMEs) has risen to 15% of total procurement value, while job localization in oil and gas companies has reached an impressive 91.2%.
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The launch of the second edition of the “Majd” Award signals Oman’s strategic commitment to deepening local content in the energy and minerals sectors, creating robust opportunities for national startups, manufacturers, and SMEs to expand and innovate. Businesses and investors should capitalize on this shift by aligning with government priorities—focusing on local supply chain integration, human capital development, and industrial investment—to leverage growing procurement and job localization mandates under Oman Vision 2040. This creates a promising environment but also calls for agility to meet escalating standards and competitive local participation.
