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Oman Overview

Oman

in figures

Oil Reserves5.4 billion barrels

Oil Production971,000 bopd

Gas Reserves700 bcm

Gas Production32.3 bcm

Oman: Diplomacy and the Downstream Drive

The largest non-OPEC oil producer in the Middle East, Oman has recently seen back-to-back record years for output, with 960,000 bopd in 2014 and 952,000 bopd in 2015. There was no sign of a slowdown in 2016, as average production surpassed 1 million bopd.

However, situated amid the world’s most prolific hydrocarbons region, Oman stands out not for its volume of resources but for its skilful application of technology. Under the oversight of the Ministry of Oil and Gas, the hydrocarbons industry has overcome Oman’s challenging geology and explored the entire country – resulting in the discovery of approximately 200 fields, mostly in the Gulf. As the country’s reserves mature, advanced EOR techniques such as steam injection and polymer flooding are being developed and applied by companies such as Petroleum Development Oman. GlassPoint Solar is constructing a solar steam generation plant near the Amal oilfield. The first and second stages will produce a total of 2,000 tonnes of steam by mid-2018, while a third phase will be completed by 2022.

While oil has formed the basis of economic growth, natural gas has emerged in recent years as a driver of nascent industries. With focus shifting towards the exploration and production of non-associated shale gas, medium-sized companies are looking to capitalise on Oman’s unconventional energy resources.

The Oil & Gas Year Oman 2017 is a comprehensive report on the country’s hydrocarbons industry. The publication provides in-depth articles to highlight the entire value chain of the country’s hydrocarbons industry, from E&P to the midstream, downstream, power generation, oilfield services, finance and engineering and construction industries. For a wider view of the Omani market, see our business intelligence platform TOGYiN. TOGYiN features on companies and institutions active in Oman’s oil and gas industry, and provides access to all our coverage and content, including interviews with key players and industry leaders. TOGYiN currently covers 35 markets worldwide.

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Eni, BP sign Oman deals

Eni, BP sign Oman deals

January 14, 2019

Eni has signed a PSA for Block 47 and a Heads of Agreement to acquire Block 77 onshore Oman, the super-major announced on…

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Colombia Oil & Gas Summit NEWS
Frigyes LESTAK, CEO of FLARE2VALUE INTERNATIONAL

Frigyes Lestak, CEO of Flare2Value International, talks to TOGY about the company’s current operations, why Oman is an attractive market and different sources of…

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DNO exits Oman, modifies Faroe bid
January 03, 2019

DNO has exited Oman after its licence for Block 8 expired following 30 years of operations, the Norwegian company announced on Thursday.

“Since inception, Block 8…

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Petronas closes Oman acquisition
December 31, 2018

Petronas has completed the acquisition of a 10% stake in Oman’s Block 61, the Malaysian NOC announced on Sunday.

The onshore block includes the giant Khazzan…

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Tethys Oil to buy Oman field stake
December 24, 2018

Total is to sell Tethys Oil its 2% stake in Block 53 onshore Oman for USD 32 million, the Swedish independent announced on Sunday.

The transaction, with an effective…

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Ali Nasser AL HADABI, CEO of OMAN ELECTRICITY AND TRANSMISSION COMPANY

Ali Nasser Al Hadabi, CEO of Oman Electricity and Transmission Company (OETC), talks to TOGY about measures to increase competitiveness, Oman’s capacity to attract…

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Musallam AL MANDHARI, CEO of OPAL

Musallam Al Mandhari, CEO of Oman Society for Petroleum Services (OPAL), talks to TOGY about the impact of the Fourth Industrial Revolution and how to create a…

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Oman to implement crude output cut
December 14, 2018

Oman will cut its oil output for six months starting in January, international media reported on Friday.

Though it is not a member of OPEC, the country will join…

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Oman Oil Company, Orpic to merge
November 19, 2018

Oman Oil Company (OOC) will merge with refining major Orpic, the two companies announced in a joint statement on Twitter on Monday.

In the same tweet, Musab Abdullah…

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