Modern Compass is a local oil and gas trading company. We meet local demand for energy products through our global oil and gas goods. Our work is already established in Oman and we are rapidly expanding.
To be the premier company providing equipment rentals and services in the oil and gas industry.
Committed to continuous improvement, to be at the forefront of technological, industrial and social development in Oman. The company endeavors to exceed the expectations of the ICV strategy requirements.
Good corporate governance is a prerequisite for a sound and sustainable company, and is built on openness and equal treatment of all investors. Our governing structures and controls help ensure that we run our business in a justifiable and profitable manner, to the benefit of partners and customers.We are a local business with a governance structure based on International Business Companies in Oman. Our objective is to engage in drilling services, including Directional Drilling and Measurement While Drilling (MWD) services, drilling equipment rental, and deposition problem on the downhole equipment and production string, transportation, refining and marketing of petroleum and petroleum byproducts, and other forms of energy products.
The board of directors is responsible for the overall management of our group, and for supervising its activities in general, as outlined in the board’s rules of procedure. The board handles matters of major importance or of an extraordinary nature. The board also appoints Maurig Group president and chief executive officer (CEO), and establishes the working instructions, powers of attorney, and terms and conditions of employment for the chief executive.
The audit committee’s role is to support the board in exercising its management and monitoring responsibilities, particularly in respect of accounting and financial reporting, and to ensure that our group has an independent and effective external and internal audit system.
The HSSE and ethics committee’s role is to assist the board in its supervision of the company’s health, safety, security and environment (HSSE), ethics policies, systems, and principles of the company. It also engages in reviews of new HSSE standards and recommendations for adoption of appropriate policies that enforce HSSE best practices in the industry.
The work compensation committee’s role is to assist the board in its work on the terms and conditions of employment for the chief executive as well as the principles for top management remuneration.