ICV Plan is a tool used to estimate how much the company is planning to spend on ICV in a particular contract. The Company sets-out its ICV Plan in tender submission as a commitment to be achieved at the end of contract execution.

In Qatar, the ICV formula is based on a plan of how the supplier will spend within the country. The aggregate ICV is measured as the total value created in the country across specific components, divided by the value of the contract.

ICV program in Oman aims to develop the skills of Oman’s workforce and increasing in-country spending on local goods and services. It consists of the following seven elements with an overarching aim of maximising ICV in the oil & gas sector. These elements are part of a standard ICV Plan in Oman.

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PDO’s In-Country Value (ICV) strategy aims at supporting local community companies and small and medium enterprises (SMEs), increasing the procurement of local goods and services, improving the capacity and capability of Omani people and companies in order to secure long-term sustainable commercial benefits for the Sultanate.

In-Country Value (ICV) measures the economic value added from local operations and retained spend. ICV is measured using a formula which captures the contribution of eligible local costs from total costs incurred from operations in the State of Qatar.

In an effort to maximise the industry’s contribution to social and economic development in the country, the Ministry of Energy and Minerals decided to form the In-Country Value (ICV) committee marking the beginning of the journey of ICV.

ICV Monitoring and Reporting System is a system that monitors successfully awarded contractors ICV performance based on the plan and ensuring targets are met.

We aim to share the benefits of the oil and gas industry across Oman through this ICV strategy. It is committed to maximising the procurement of local goods and services as well as improving the capacity and capability of Omani people and companies to secure sustainable commercial benefits for the Sultanate.

The ICV Plan Templates are part of the tools provided by Tawteen. The ICV Plan is a forward looking view, based on The Company’s planned spend during the contract execution. The ICV Plan must be certified by an ICV Certifier at the end of the contract. For contracts over a year long, The Buying Entity may request the ICV Plan