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(During World War II, when oil operations were suspended, the annual payment was 300,000 rupees.) Before commercial production could begin, an industry had to be assembled. The company built a jetty at Bir Zikrit and shipped in water, foodstuffs, and almost 100,000 tons of equipment and supplies from Bahrain before the first drop of oil was pumped. Once exports began, oil became extremely profitable in Qatar and in the rest of the Persian Gulf as a result of favorable concession terms, cheap labor, relatively inexpensive drilling and pumping costs, and easy access to transportation.
In 1952 the 1935 concession agreement was revised (in line with others in the region) to split profits fifty-fifty between the company and the ruler. Shaykh Ali ibn Abd Allah's share rose from about US$1 million in 1950 to US$61 million in 1958, after which his profits dipped to US$53 million in 1959 and did not rise to the 1958 level until 1963. Some money reached the local economy, but the initial impact of oil exports consisted mainly of high incomes for the Al Thani and high inflation on basic commodities.
The actions of our people, the excellence of our processes and our respect for our stakeholders will visibly demonstrate Cimarex Group commitment to World-Class performance.
Cimarex Group take pride in adhering to best industry practices, both in terms of results and effectiveness, in order to ensure the safety and health of its employees, contractors, suppliers, community and customers, in addition to protecting the environment wherever it conducts business. MOT robust Management System helps the Corporation, as well as its subsidiaries, it attaining several goals, as follows:
Commit us to our Mission. Demand a healthy and constructive relationship with our stakeholders in our community. Our responsibilities toward the safety and health of our employees demand that we implement and maintain the corporate expectations, as the key requirements of our processes.
Hold us accountable collectively for our performance versus the expectations.
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