Business Wire India
businessgateways, Oman presented the Joint Supplier Registration System (JSRS) exclusively to Indian companies that were interested in expanding their business into Oman's Oil & Gas procurement & projects.
Riding on the robust Indo-Oman bilateral trade relationship, businessgateways, Oman in association with the Indo Arab Chamber of Commerce & Industry (IACCI) conducted its first in the series of ‘JSRS Seminars’ planned across the metropolitan cities of India. The objective of the seminar was to create awareness on Oman’s huge business potential and invite Indian Companies to join hundreds of JSRS Certified Indian suppliers on the JSRS.
The seminar showcased the JSRS as well as presented information on huge procurement opportunities for Indian companies to identify new potential & participate through the national procurement system with many thousands of suppliers across 90+ countries.
What is JSRS?
The ‘Single Window’ Joint Supplier Registration System (JSRS) is Oman’s national mandated procurement system for the entire Oil & Gas Industry. It was created and implemented on behalf of the Oman Ministry of Oil & Gas, & Oman’s 20 Oil & Gas Operators by Business Gateways International LLC (businessgateways), an Omani company providing national-level IT solutions, to solve various procurement challenges faced by the Oil & Gas Industry in Oman.
The JSRS is hosted on www.businessgateways.com.
The 20 Oil & Gas Operators who currently utilize the mandated JSRS platform to identify suitable certified suppliers are Petroleum Development Oman (PDO), BP British Petroleum (BP), DNO, CCED, Occidental of Oman (OXY), Oman LNG, Daleel Petroleum, ORPIC, Oman Oil Exploration and Production (OOCEP), MOL Group, MEDCO Energi, Masirah Oil Ltd, Hydrocarbon Finder, Qarat Al Milh Petroleum, Oman Lasso E&P, Petrogas, Petrotel, ARA Petroleum, Oman Gas Company (OGC) and Tethys Oil.
Today the success of the JSRS has seen its expansion from the Oil & Gas Industry to Other Industries as well resulted in the formation of the JSRS Buyers Community.
The JSRS with its current & dynamically updated supplier data and monitoring mechanism enables all the 20 O&G Operators and Other Industry Buyers to identify & select suppliers based on various eligibility criteria and to propagate tenders to them.
Operators and Buyers plan to use many other high-end features like e-Procurement, e-Tendering & Contracts Management System to manage the publishing of tenders and track awards of contracts all the way to the last sub-contractor who executes his scope of work.
In 2017, the Embassy of India (Muscat) endorsed JSRS and invited Indian companies, trade bodies and associations to become JSRS Certified and connect with Oman’s business opportunities.
Excerpts from the JSRS Seminar
During his introduction of the JSRS to the Indian Suppliers, Mr. Hemant Murkoth, CEO of businessgateways, Oman, outlined the strategic importance of the Sultanate amongst the GCC and the large business promise it held for years to come. JSRS, he said, was Oman’s In-Country Value (ICV) initiative by its Ministry of Oil and Gas and the Oil & Gas Operators.
“The JSRS is an easy ‘single-window’ registration and certification mechanism for Indian companies to connect with all the 20 Oil & Gas Operators of Oman for procurement opportunities.”
documents for validation. After due validation, the supplier is certified and then he automatically becomes visible to all the Operators during their search for products or services that they are validated for.
Hemant also mentioned the National Business Framework of Oman. Through this B2B Framework, Indian companies can identify credible local Omani companies to represent their business and participate in local opportunities as well. It is to be noted that there are over 6800 suppliers currently from 90 other countries that are registered & certified on JSRS, serving the procurement requirements of the Sultanate of Oman with over 80,000 unique products & services.
The JSRS Seminar was conducted in association with the Indo Arab Chamber of Commerce and Industry (IACCI), Mumbai. The IACCI ensures identification of new areas of mutual co-operation, investments, smooth flow of trade, joint ventures and technology. Executive Director of IACCI, Mrs. Sunanda Rajendran, welcomed the audience and emphasised that JSRS is the only transparent gateway for Indian suppliers to enter Oman’s business market.
Throwing light on Oman as an investment destination, a short presentation was given by Port of Duqm Company, Oman’s largest development project in terms of investment opportunities and logistics facilities available. Duqm could be very attractive for Indian companies to tap into as it is proposed to be the next biggest infrastructure destination in Oman.
The seminar concluded with a demo on JSRS.