Middle East / Africa
Country profile: Oman
| Location: | Middle East, bordering the Arabian Sea, Gulf of Oman, and Persian Gulf, between Yemen and UAE |
| Climate: | dry desert; hot, humid along coast; hot, dry interior; strong southwest summer monsoon (May to September) in far south |
| Terrain: | central desert plain, rugged mountains in north and south |
| Size: | 212460 sq. km total (Land area: 212460 sq. km ) |
| Population: | 3,311,640 |
| Languages: | Arabic (official), English, Baluchi, Urdu, Indian dialects |
| Government: | monarchy |
| Capital city: | Muscat |
| Legal system: | based on English common law and Islamic law; ultimate appeal to the monarch; has not accepted compulsory ICJ jurisdiction |
| Currency: | Omani rial (OMR) |
| Licensing: |
Country profile
Oman’s economy is heavily reliant on oil revenues, which account for about 75 percent of the country’s export earnings and 40 percent of its gross domestic product (GDP). During 2006, Oman’s real GDP grew at an estimated rate of 4.2 percent, down from 5.7 percent in 2005. The slowdown in economic growth occurred largely as a result of declining oil production in Oman. To help offset these declines, the government has devoted considerable resources to new exploration and production activities, enhanced oil recovery projects, and introduced policies aimed at diversifying the country’s economy away from the oil sector.
The development of natural gas reserves in Oman is a central part of this effort, and natural gas production is likely to expand considerably during the next several years. All of Oman’s domestic energy consumption is supplied by natural gas and oil, reflecting the country’s relative abundance of oil and natural gas reserves.
Energy production and consumption
| Oil | Gas | |
| Production: | 740,000 bbl/day (2006 est.) | 18 billion cu m (2005 est.) |
| Consumption: | 66,000 bbl/day (2006 est.) | 8 billion cu m (2005 est.) |
| Exports: | 733,100 bbl/day (2006 est.) | 10 billion cu m (2005 est.) |
| Imports: | 15,440 bbl/day (2006 est.) | |
| Reserves: | 4 billion bbl (2007 est.) | 795 billion cu m (1 January 2006 est.) |
| Major fields: |
Oman - recent news
| 01 Apr 24 |
Oman: Masirah Oil starts multi-well programme in the Yumna field, offshore Oman Masirah Oil has announced the spudding of the Yumna-5 well in the offshore Yumna Field in Block 50, Oman. The Yumna-5 well will be drilled at the crest of the structure to drain attic oil left un-swept by the current producers. |
| 01 Mar 24 |
Oman: Rex International subsidiary Masirah Oil signs jack-up drilling rig contract for multi-well programme in Yumna field, offshore Oman Rex International subsidiary Masirah Oil has announced the signing of a contract for the Energy Emerger jack-up drilling rig. The rig, operated by Northern Offshore, will perform a multi-well programme in the offshore Yumna field in Block 50, offshore Oman. |
| 20 Feb 24 |
Oman: Tethys Oil signs drilling rig contract with GOS for Block 58 exploration well Tethys Oil is continuing its operational activities on Block 58, onshore Oman. The preparations are ongoing for the drilling of the first exploration well, Kunooz-1, in the Fahd area, with estimated unrisked recoverable prospective resources of more than 100 mmbo. |
| 06 Feb 24 |
Tethys Oil to initiate a strategic review of its portfolio of Oil and Gas properties Tethys Oil’s Board of Directors has decided to initiate a strategic review of the Group’s portfolio of Oil and Gas interests. The review will explore the possibility of rebalancing the portfolio’s mix of assets in different stages of the lifecycle and increasing the visibility of the assets’ fair market value. |
| 09 Jan 24 |
Oman: Tethys Oil completes drilling of Menna-1 well in Block 56 onshore Oman Tethys Oil is increasing its operational activities on Block 56 onshore Oman. The drilling of the exploration well Menna-1 has been completed. The well logs indicate hydrocarbons in three separate zones and preparations for the testing operations are ongoing. Testing operations will also resume on the previously drilled Sarha-3 well, on which a workover has been completed. |
Oman - more news
Other countries in this region
- Algeria,
- Angola,
- Bahrain,
- Benin,
- Botswana,
- Burundi,
- Cameroon,
- Central Africa Republic,
- Chad,
- Comoros,
- Congo (Brazzaville),
- Congo (Democratic Rep.),
- Cote d'Ivoire,
- Djibouti,
- Egypt,
- Equatorial Guinea,
- Eritrea,
- Ethiopia,
- Gabon,
- Gambia,
- Ghana,
- Guinea (Republic),
- Guinea Bissau,
- Iran,
- Iraq,
- Israel,
- Jordan,
- Kenya,
- Kuwait,
- Lebanon,
- Liberia,
- Libya,
- Madagascar,
- Malawi,
- Mali,
- Mauritania,
- Mauritius,
- Morocco,
- Mozambique,
- Namibia,
- Niger,
- Nigeria,
- Palestine,
- Qatar,
- Rwanda,
- Sao Tome,
- Saudi Arabia,
- Senegal,
- Seychelles,
- Sierra Leone,
- Somalia,
- Somaliland,
- South Africa,
- South Sudan,
- Sudan,
- Syria,
- Tanzania,
- Togo,
- Tunisia,
- Uganda,
- United Arab Emirates,
- Western Sahara,
- Yemen,
- Zambia,
- Zanzibar,
- Zimbabwe
