Qatar Petroleum, the nation’s state-owned oil company, is changing its process for awarding contracts, eliminating direct agreements with partner companies in favor of taking bids from all qualified providers.
The policy change is part of an effort from Qatar Petroleum to foster more fair and equal competition in the Qatari market by providing more opportunity for participation from multiple firms.
The decision moves the company more in line with its goal of being not only the national corporation responsible for the entire oil and gas industry in Qatar, but also a dedicated community partner that fosters economic growth for the nation’s other businesses.
That means wholly and partly owned subsidiaries of Qatar Petroleum will now be in competition for the company’s many contracts.
That’s not necessarily a bad thing for those subsidiaries. Gulf International Services, a subsidiary of Qatar Petroleum and the largest services group in Qatar, looks at the move as an opportunity to grow and diversify the business in other sectors.
Gulf International Services holds interests in a broad set of industries ranging from insurance, fund management, onshore and offshore drilling, accommodation barge, helicopter transportation, and catering services. Now, the company will be competing on the local market, which is expected to drive better performance.
