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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, Downstream and the Solar Drive

Oman has recently seen back-to-back record years for oil output, with production hovering around the 1-million-bopd mark – a landmark target first reached in 2016.

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, increasingly in combination with renewables as a power source.

GlassPoint Solar is constructing a solar steam generation plant for PDO near the Amal oilfield that, with a capacity of 1 GW, will be among the world’s largest solar parks. Solar is taking on a growing role in the country’s power generation, from PDO’s 100-MW Amin project, which came on line in May 2019, to the 1.1-GW Manah project, set to come on line in 2021.

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, mid-sized companies are looking to capitalise on Oman’s unconventional energy resources.

Oman sees major downstream projects as a buffer against future crises for a country strongly affected by the oil price cycle. Centred in the strategic growth areas of Sohar, Duqm and Salalah, these projects will deepen Oman’s footprint in petrochemicals, plastics and LNG, while creating job growth and greater opportunities for investment.

The Energy Year Oman 2020 is currently under production, and will provide comprehensive insights on the country’s energy industry. Our last report, The Oil & Gas Year Oman 2018, offers in-depth coverage of the full hydrocarbons value chain, from E&P to the midstream, downstream, power generation, oilfield services, finance and engineering and construction sectors.

Interview
Oman - April 09, 2020

The Energy Year talks to Murtaza Firoz Jariwala, managing director of Vanguard Engineering & Oilfield Services, about how the…

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Total, PTTEP in Oman exploration deal
NEWS
Oman - February 20, 2020

French super-major Total and Thailand’s PTTEP have signed a deal to explore for gas in Oman’s onshore Block 12.

The…

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Oman books

More books
OPAL and TOGY to collaborate on new Oman edition
NEWS
Oman - February 11, 2020

TOGY International Ltd and the Oman Society for Petroleum Services (OPAL) signed a collaboration agreement for the production of…

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Oman free zone offers solar power option
NEWS
Oman - February 06, 2020

Oman’s Sohar Port and Freezone has announced it will give companies the option to invest in large-scale solar installations to…

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Eni, BP sign Oman deals
NEWS
Oman - 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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Frigyes LESTAK, CEO of FLARE2VALUE INTERNATIONAL
Interview
Oman -

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

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DNO exits Oman, modifies Faroe bid
NEWS
Oman - 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
NEWS
Oman - 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
NEWS
Oman - 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
Interview
Oman - December 20, 2018

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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