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
|22 May 23
||Oman: Maha Energy provides update on the production test on Block 70, onshore Oman
Maha Energy has announced the initial and preliminary results from the production test on Block 70 in the Sultanate of Oman. The tests were performed on the 'Alpha pad' on wells Mafraq-7, 8, 9 and 10. The oil produced during the testing phase is heavy oil of 11-13 degrees API, with viscosity higher than pre-testing estimates.
|16 May 23
||Oman: Tethys Oil announces production update April 2023
Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman, in April 2023 amounted to 276,740 barrels of oil, corresponding to 9,225 barrels of oil per day.
|27 Mar 23
||Oman offering three oil and gas concessions in latest licensing round
Oman's Ministry of Energy and Minerals (MEM) has announced the Oman bid round 2023, which will be offered in two batches: the first batch consists of Onshore Blocks 15, 54 & 36. Closing date for bids is June 25 2023.
|20 Mar 23
||Oman: Maha Energy commences production test on Block 70 onshore Oman
Maha Energy has announced that the production test on Block 70, in the Sultanate of Oman, has commenced. The production test will include all eight new production wells drilled in the 2022/2023 drilling program.
|15 Mar 23
||Oman: Tethys Oil provides operational update for Block 56 onshore Oman
Tethys Oil reports that the fiscal metering equipment for the extended well test on Al Jumd has arrived at the hook up point, and installation is ongoing. Commissioning and first oil is expected before the end of next week. The extended well test of the Al Jumd discovery has a planned duration of three to six months with the objective to establish recoverable resources volumes and optimal production rates.
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,