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 )|
|Languages:||Arabic (official), English, Baluchi, Urdu, Indian dialects|
|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)|
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
|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.)|
Oman - recent news
|27 Sep 20
||Oman: Maha Energy awarded Block 70 onshore Oman
Maha Energy has been awarded Block 70, onshore Oman. The Block, which includes the shallow undeveloped Mafraq heavy oil field, is located in the middle of the prolific Ghaba Salt Basin in the central part of Oman.
|20 Sep 20
||Oman: EOG Resources awarded Block 36 in Oman's Rub Al Khali basin
EOG Resources has signed an Exploration and Production Sharing Agreement (EPSA) with the government of the Sultanate of Oman to explore for hydrocarbons in Block 36 in the southwest of the country.
|07 Jul 20
||Oman: Tethys Oil signs new exploration block onshore Oman
Tethys Oil has entered into an Exploration and Production Sharing Agreement (EPSA) for Block 58 onshore Oman. The block is located in southern Oman adjacent to Tethys Oil’s operated exploration licence Block 49.
|19 Feb 20
||Oman: PTTEP and Total sign EPSA for Block 12 onshore Oman
PTTEP and Total have signed an Exploration and Production Sharing Agreement (EPSA) with Oman’s Ministry of Oil and Gas (MOG) for exploration and production rights of Block 12, located onshore central part of the Sultanate of Oman.
|19 Feb 20
||Oman: Eni begins drilling Oman’s first deepwater offshore well
Eni has commenced drilling the first deep-water well in Oman. The Pacifica Bora drillship, chartered by Eni Oman, has commenced drilling activities in Block 52, a vast deepwater concession that extends off the Sultanate’s southern and south-eastern seaboard.
Oman - more news
Other countries in this region
- Central Africa Republic,
- Congo (Brazzaville),
- Congo (Democratic Rep.),
- Cote d'Ivoire,
- Equatorial Guinea,
- Guinea (Republic),
- Guinea Bissau,
- Sao Tome,
- Saudi Arabia,
- Sierra Leone,
- South Africa,
- South Sudan,
- United Arab Emirates,
- Western Sahara,