Tatweer Petroleum is a four-year old Joint Venture between three dissimilar entities that entered into a Development and Production Sharing Agreement (DPSA) with the Government of the Kingdom of Bahrain. The parties to this agreement are Mubadala Petroleum (UAE), Nogaholding (Bahrain) and Occidental Petroleum (USA). As a result, Tatweer has the privilege of accessing expertise and tap into the resources of the three partners whenever and wherever needed which is a major asset to the organization. Another benefit of such partnership is the cultural diversity that Tatweer currently enjoys with employees from over 35 different nationalities with different experiences and affiliations.
At Tatweer, we believe that the DNA of our high performance culture is our core values. For organizational success, we put our ‘people’ first as they are our competitive advantage.
Tatweer recently introduced several initiatives intended to build this highly performance-driven culture and to maintain Tatweer's position as an employer of choice. Tatweer has developed a rigorous objective-based appraisal program and procedures to link an individuals' performance to their merit increase, annual bonus entitlements and their qualification to be on the Company's succession plan. Tatweer has developed a KPI matrix to link the Company's performance to an element in the annual bonus. Teaming with a reputable institute in the field of compensation and benefits, the Company has been able to develop a competitive compensation program to compete in the local and regional markets and to attract talented candidates to assist with Tatweer's progress. The Company has also partnered with reputed institutions to capture bright, energetic nationals through an apprenticeship program that provides the opportunity for local nationals to excel in various fields such as electrical, mechanical, instrumentation and field operations.
In our presentation, we will share the challenges as well as the initiatives that Tatweer has introduced to build a high performance competitive environment that is essential to meet the challenges inherent in such aggressive plans and achieve the JV's goals.
As such, training and development, technology transfer and talent management have become the three key challenges as we work to build a high performance culture in Tatweer.
Our high performing team players are focused on delivering, learning and advancing in our performance driven culture.
While adding great value, these cultural and organizational diversities create a challenge for Human Resources to manage in light of the DPSA's requirements to increase localization percentage to 80% in a relatively short period of time without jeopardizing the quality of resources in the organization.