Abraj Initiated "Project Estidama"

Following Abraj Energy Services (“Abraj”) successful roll-out of its new brand identity, the company initiated “Project Estidama” to focus on key Environmental, Social, and Governance (“ESG”) focus areas. The project aims to define a comprehensive sustainability strategy and roadmap, and publish its inaugural Sustainability Report.. The decision to undertake this sustainability journey aligns with Oman’s Vision 2040 to focus on sustainable development. Abraj will engage employees and customers to conduct a thorough materiality analysis to define the ESG topics most important to the business and its stakeholders. The Sustainability Report will discuss these topics, as well as Abraj’s sustainability performance, short- and long-term sustainability plans, and ongoing commitment to environmental integrity, sustainable development, and social responsibility. During the kick-off meeting, Abraj’s CEO, Saif Al Hamhami, noted that “Project Estidama was recently initiated to support the Sultanate’s efforts towards diversification of its oil and gas business as well as embed a sustainability mindset across the drilling and well-services industry. With the partnership of a global group like Carnrite, we believe that the journey will be seamless and will elevate our environmental, social and governance performance.” ‘’ Abraj have recently embarked a journey of rejuvenation our brand and business strategies. At the forefront of these strategies is the consolidation of our ESG efforts and the identification of new focus areas that can potentially reshape Abraj’s future business. Our cumulative knowledge, skills and expertise in the energy sector gives us a competitive advantage to lead the way in ESG. We are all confidence that along with our partner Carnrite Group, will be able to meet the expectations of our employees, customers ‘’ said Salah Al Harthy , Abraj’s Business Development Director . and shareholders .” To support this effort, Abraj is delighted to announce the partnership with Carnrite Group, a management consultancy with offices in the UAE, UK, and USA. Carnrite Group has recently acquired NETZERO Middle East, which strengthens Carnrite’s ability to help clients navigate the energy transition. Globally, Carnrite Group’s team of experienced consultants has helped clients calculate emissions, build low carbon businesses, implement carbon management software, and form, operationalise, and communicate sustainability strategies “We have partnered with leadership teams in all segments of the energy sector to address complex issues and opportunities throughout our thirty-year history. Abraj is committed to operating in a sustainable manner whilst generating value for its clients, shareholders, employees, and the community. We are pleased to support this sustainability journey and look forward to strengthening our partnership with their talented team.” said Ashley Taylor, General Manager, Middle East at Carnrite Group. Abraj’s Sustainability Report will be prepared in accordance with the Global Reporting Initiative (GRI) and guided by other global and local frameworks such as United Nations Sustainable Development Goals (UN SDGs), and Oman’s 2040 Vision. More specifically, Abraj is aligned with the Sultanate’s Second Nationally Determined Contribution, which was submitted to United Nations Framework Convention on Climate Change (UNFCCC), to consider investing in projects that supports the overall reduction of Oman’s GHG emissions by 2030 . The sustainability strategy will be communicated later this year, while the Sustainability Report is expected to be published in early 2023.