Middle East / Africa

Oman flag
Summary | Profile

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

09 May 24
Oman: CB&I awarded contract by TotalEnergies and OQ for full containment liquefied natural gas tank in Oman
CB&I, a wholly owned unrestricted subsidiary of McDermott, has been awarded a significant contract by Marsa Liquefied Natural Gas, a joint venture between TotalEnergies and OQ for the engineering, procurement, construction (EPC) of a full containment concrete liquefied natural gas (LNG) storage tank, located in Oman's Port of Sohar.
22 Apr 24
Oman: Technip Energies awarded a substantial contract for TotalEnergies and OQ’s Marsa LNG Project in Oman
Technip Energies has been awarded a substantial contract by TotalEnergies and OQ for the Marsa LNG bunkering project located in Sohar, Oman. The contract covers Engineering, Procurement and Construction (EPC) of a natural gas liquefaction train with an LNG production capacity of 1 Mtpa.
22 Apr 24
Oman: TotalEnergies launches the Marsa LNG project and deploys its multi-energy strategy in the Sultanate of Oman
TotalEnergies and the Oman National Oil Company have announced the Final Investment Decision (FID) of the Marsa LNG project. TotalEnergies had signed a Sale and Purchase Agreement (SPA) with Oman LNG to offtake 0.8 Mtpa of LNG for ten years from 2025, making the Company one of the main offtakers of Oman LNG's production.
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.

Oman - more news

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