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
|12 Apr 21
||Oman: Worley awarded maintenance and integrity contract for PDO assets
Worley has been awarded a maintenance and integrity contract for services to support Petroleum Development Oman (PDO)’s strategic oil and gas production assets in the South Oman concession region.
|06 Apr 21
||Oman: Masirah Oil completes drilling programme offshore Oman
Masirah Oil has announced that following the successful drilling of two Yumna field development wells in Block 50, offshore Oman, it has completed drilling three exploration prospects that were located near to the Yumna field, offshore in the Arabian Sea.
|25 Mar 21
||Oman: PDO signs USD4 billion long-term service contracts
Petroleum Development Oman (PDO) has signed major service contracts worth US$4 billion covering project delivery and maintenance and integrity work in the North and South of its concession area.
|17 Mar 21
||Oman: Masirah Oil completes upgrade of Yumna field process facilities
Rex International subsidiary Masirah Oil has announced completion of the upgrade to the Yumna field process facilities, which has more than doubled the liquid handling capacity on the Mobile Offshore Production Unit (MOPU) to 30,000 barrels per day.
|11 Mar 21
||Oman: Wood completes work on Shell’s first solar PV plant in the Middle East
Wood, the global consulting and engineering company, recently completed its role as owner’s engineer on Oman Shell’s first utility-scale, photovoltaic (PV) solar project in the Middle East, designed to cut emissions from industrial activities.
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,