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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.

Oman books

More books
Total, PTTEP in Oman exploration deal

Total, PTTEP in Oman exploration deal

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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NAPEC 2020 News
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 Monday.

Oman Oil Company Exploration and…

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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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