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
| 15 Sep 26 |
Oman: Kistos completes acquisition of Blocks 3 & 4 Kistos, an independent energy company focused on unlocking value within its existing portfolio and through value-accretive M&A, has completed the acquisition of Blocks 3 & 4 from Mitsui E&P Middle East. |
| 07 Sep 26 |
Oman: Kistos reports issuance of Royal Decree for Block 3 & 4 onshore Oman Kistos has announced that it has now received confirmation of the grant of Royal Decree from the Sultanate of Oman in connection with the acquisition of Blocks 3 & 4 onshore Oman, from Mitsui. The effect of the grant of the Royal Decree is that legal ownership of Blocks 3 & 4 has now passed to Kistos. |
| 15 Apr 26 |
Oman: Masar Petroleum makes major Hasirah Ridge discovery Masar Petroleum SAOC, a leading Omani oil and gas exploration and production company, has announced a landmark discovery in the Hasirah Ridge in Block 7, Sultanate of Oman, marking a defining milestone in the company’s growth trajectory. |
| 07 Apr 26 |
Oman: Masirah Oil expects to start drilling programme in Yumna field in May 2026 Masirah Oil Limited ('MOL'), an indirect subsidiary of the Rex International Group, has announced that the drilling programme of three development wells in the offshore Yumna field in Block 50 Oman is now expected to commence in May 2026 |
| 13 Feb 26 |
Oman: PETRONAS secures Oman’s Block 18 - advancing global exploration portfolio PETRONAS has announced that its wholly-owned subsidiary, PC Oman Ventures Ltd (PCOVL) has signed a Concession Agreement with the Government of the Sultanate of Oman and OQ Exploration and Production Batinah Offshore LLC (OQEP) as its partner for the exploration of oil and gas in Block 18. |
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
