Masayuki Hyodo
Representative Director, President and Chief Executive Officer
I extend my sincere congratulations on the fiftieth anniversary of diplomatic relations between Oman and Japan. I pray for the further development of Oman and its dear people under the sagacious and great leadership of His Majesty Sultan Haitham bin Tariq, along with the further deepening of the ties between our two countries. On this landmark occasion, I also wish to express gratitude and respect to His Excellency Mohamed Said Khalifa Al Busaidi Ambassador of Oman to Japan for giving Sumitomo Corporation this opportunity.
Since the 1970s, Sumitomo Corporation has engaged in a wide variety of business activities to contribute to the development of Oman by addressing contemporary societal issues. Today, based on the business foundation and trust that we have fostered over many years, we are further enhancing these initiatives, and adding new initiatives to boldly tackle the global issue of balancing decarbonization and the procurement of energy essential for economic development. We will continue to play an important role in the public and private partnership between Japan and Oman. We will also cooperate with Oman for a sustainable society and a prosperous life.
We will introduce our leading business fields here.
Tubular Products Business
We have been supplying Oil Country Tubular Goods (steel pipes), which are used in production of oil and gas to Petroleum Development of Oman (PDO) for over 20 years. The Supply Chain Management service for PDO, launched in 2003, has moved its location from Dubai, United Arab Emirates, to Oman in 2011. Since then, we have expanded its services to other oil companies and have been contributing to the creation of local jobs. Furthermore, in 2022 we have formed a capital and business alliance with Protostar Group Limited (“44.01” from its brand name), a startup operating mainly in Oman which provides carbon dioxide (CO2) mineralization services. We will also work toward the development and expansion of decarbonization businesses in Oman.
(Right) Flow from CO2 capture to mineralization by "44.01"
Energy Trading Business
Sumitomo Corporation began crude oil exploration activities through a subsidiary in 1975, and from 1980 through 1999 we extracted crude oil from the Abu Butabul field and supplied it steadily to Japan. In the 1990s we began to enter into long-term purchase contracts for crude oil, which have continued to this day. In December 2022, we entered into joint feasibility study of green methanol and green ammonia derived from renewable energy for marine fuel, together with OQ Alternative Energy, Asyad Group, and A.P. Møller-Maersk, as a new initiative in response to the global trend toward decarbonization.
Seawater Desalinization Business
Sumitomo Corporation is carrying out a seawater desalination project in the Omani capital Muscat, to supply 190,000 tons of clean water per day, mainly within Muscat, through the Omani government’s water supply network. We participated in this project in 2012, and established a business company together with several partners. The plant was completed in February 2016 and is operating smoothly today. This business was listed on the Muscat Securities Market in January 2018. Sumitomo Corporation also invests in another company, which operates and maintains the plant, and is expanding local employment opportunities, while remaining proactively involved in its operation.
Sumitomo Corporation remains aware that resolutions to social issues in line with the actual situation in Oman and long-term economic growth, go hand in hand, and will continue to contribute to the development of the sultanate of Oman and its local communities, both in and outside of these businesses.