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Oman

Profile

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Oman
Leader
Sultan Qaboos bin Said al-Said

Oman country datafile
Country overview
Government contacts

Country data

Iran 2008 2009 2010 2011 2012f 2013f 2014f
Nominal GDP ($bn) 60.7 48.2 58.8 70.0 78.3 80.6 82.3
GDP per capita ($) 21,808 16,734 23,351* 23,380 25.356 25.289 25.014
Real GDP growth (annual change, %) 13.2 3.3 5.6 4.5 5.0 5.1 3.4
Government revenue (% of GDP) 46.2 38.1 39.3 47.3 47.6 47.6 46.0
Government total expenditure (% of GDP) 29.4 38.4 33.8 38.2 43.1 41.7 45.4
Total government debt (gross, % of GDP) 4.7 6.7 5.5 5.5* 6.0 7.0 8.0
Current account balance (% of GDP) 8.3 -1.3 10.0 15.3 11.6 9.7 7.8
Value of oil imports 0 0 0 0 0 0 0
Value of oil exports 28.7 18.1 25.2 33.4 36.3 35.1 32.6
Inflation (%) 12.6 3.5 3.3 4.0 2.9 1.3 2.7
Click to see full economic data (2005 - 2018 forecast)
Source: International Monetary Fund, World Economic Outlook Database; Last updated: June 2013; *=Estimate

Doing business in...

Cover

Doing business in Oman Subscription

3 November 2013 | By

Welcome to MEED’s Guide to Doing Business in Oman

Information providers in Oman Subscription

29 October 2013

A guide to key media in Oman

Oman healthcare Subscription

29 October 2013

The healthcare system in Oman is overseen by the Ministry of Health

Education in Oman Subscription

29 October 2013

The Ministry of Education supervises most aspects of the Omani education system. Education in state schools is provided free of charge to all locals

Property in Oman Subscription

29 October 2013

After peaking in 2008, property prices in Oman saw a sharp contraction in line with the regional economic slowdown

Oman: Transport and logistics Subscription

29 October 2013

Transport infrastucture is being developed

Economic zones in Oman Subscription

29 October 2013

Guide to economic zones in Oman

Taxation in Oman Subscription

29 October 2013

Mansoor Malik and Ravinder Singh from Al-Busaidy Mansoor Jamal & Co. answer key questions

Sharia law in Oman Subscription

29 October 2013

Mansoor Malik and Sulaiman al-Salmi from Al-Busaidy Mansoor Jamal & Co. explain the role of Islamic law in Oman

Omanisation Subscription

29 October 2013

Dentons’ Dianne Hamilton and Sumaiya al-Yarubi explain the implications of the sultanate’s nationalisation programme

Employment law in Oman Subscription

29 October 2013

Dianne Hamilton and Sumaiya al-Yarubi from Dentons law firm outline the rights of employees and the obligations of employers

Setting up a company in Oman Subscription

28 October 2013

Trowers & Hamlins’ Kate Marshall and Andrew Slucky explain the process of establishing a presence in the sultanate

Oman project awards 2006-2012

Oman projects market Subscription

28 October 2013

Exclusive research from MEED Insight finds Oman is a small but stable market for contractors, with large schemes in the pipeline

Nominal GDP Oman

Oman economy Subscription

28 October 2013

Once a sleepy backwater of the Arab world, Oman has been transformed over the past few decades into one of the more developed societies in the region

Oman government structure Subscription

28 October 2013

The territories that make up the present-day Sultanate of Oman were consolidated in 1970 by Sultan Qaboos bin Said al-Said, following the palace coup that ousted his father

Population of Oman 1980-2015

Oman: People and culture Subscription

28 October 2013

The population of Oman is estimated at between 3 million and 3.3 million, a considerable increase from the 2.8 million recorded at the last official census in 2010

History of Oman Subscription

28 October 2013

Oman has been an important trading centre since the Bronze Age, when natural harbours on the east coast became way stations for sea traffic between the empires of Mesopotamia and the Indus Valley

Oman map

Oman: Basic information Subscription

28 October 2013

A guide to doing business in Oman

Oman trends

Railway construction

Rail projects safe from oil price drop Subscription

19 January 2015 | By

No sign of delays for existing rail and metro projects across the GCC although new project plans unlikely to materialise this year

Average LNG import prices to Japan

GCC LNG exporters hit as prices plummet Subscription

14 January 2015 | By

Lower Asia demand growth and tumbling crude price signal weak liquefied natural gas market in 2015

Muscat, the capital of Oman

Oman increases public spending in 2015 Subscription

12 January 2015

If the oil price remains under $60 a barrel in the long term, significant cuts will be needed in future budgets

Middle East contract awards December 2014

Middle East contracts awarded: December 2014 Subscription

7 January 2015

Over $6bn of contracts awarded in December in the Middle East

oil

Impact of falling oil prices on Oman Subscription

17 December 2014

With smaller oil reserves and a much higher budget breakeven oil price, Oman is more vulnerable to low crude prices than the four biggest GCC economies, but stands in a far stronger position than Bahrain

Oil, gas and chemical awards in the GCC

GCC oil and gas spending hits four-year high in 2014 Subscription

15 December 2014 | By

Kuwait leads spending as Saudi Arabia has weakest year for contracts since 2004

WTI spot price

Riding out low oil prices Subscription

4 December 2014 | By

GCC nations brace for budget deficits as Opec offers no oil price support

Middle East contracts October 2014

Middle East contracts awarded: October 2014 Subscription

1 December 2014

Over $13bn of contracts awarded in October in the Middle East

Filter Oman analysis by sector

MEED comment

Saudi Aramco's Khurais oil field in Saudi Arabia

Masters of the new world energy order

18 January 2015 | By

The GCC, the worlds’ biggest energy exporter, and the US, the world’s largest energy consumer are emerging as leaders in a new world energy order

Muscat, the capital of Oman

Oman’s highest budget ever

6 January 2015 | By

Is Oman’s increase in spending driven by bravery or fear?

Saudi Aramco's Khurais oil field in Saudi Arabia

Why GCC producers are happy to see oil fall

18 December 2014 | By

The GCC’s oil producers will be the biggest winners from the 2014 oil price crash

Opec secretary-general Abdullah al-Badri

Opec sets the tone for 2015

15 December 2014 | By

Regional producers are not about to cut oil production and the assumptions that have underpinned forecasting in recent years have to be revisited

While other Arab nations adopt firm stances on regional politics, Muscat is content to straddle the fence

Oman remains on the sidelines Subscription

6 November 2014

While other Arab nations adopt firm stances on regional politics, Muscat is content to straddle the fence

Oman plastics drive

Liwa Plastics a milestone for Oman diversification Subscription

30 October 2014 | By

Sohar megaproject receives first major industrial gas allocation for almost a decade

Power generation

Power leads privatisation drive in Oman Subscription

30 October 2014 | By

Creating a spot market for electricity pricing is the latest plan for the country’s utility sector

New Oman projects could boost exports

New Oman projects could boost gas exports Subscription

16 October 2014 | By

Khazzan project gathers steam with most of construction on track to start in 2015

See all MEED commentary

Special reports

Opec secretary-general Abdullah al-Badri

Opec sets the tone for 2015

15 December 2014 | By

Regional producers are not about to cut oil production and the assumptions that have underpinned forecasting in recent years have to be revisited

Muscat in Oman

Oman: The importance of diversifying the economy

6 November 2014

It is essential Muscat continues to move forward with its development plans

Muscat, Oman

Oman Projects 2014 Subscription

19 October 2014

Oman’s projects sector to see increased activity

Oman

Oman: Transport schemes to open up the economy Subscription

2 April 2014

Oman is unique among the GCC states for its geographical beauty

More Oman special reports

Market presentations

Dubai creek

Managing the Boom: The Outlook for the Middle East Subscription

23 July 2014

Opportunities and challenges for businesses in the region created by the new projects boom

Project Finance

Webinar: Middle East project finance outlook Subscription

17 June 2013

Market constraints to continue, with deals flowing to most stable markets in the region

After the Uprisings webinar

After the Uprisings: The outlook for business in the Middle East in 2013 and beyond Subscription

4 March 2013

A webinar on the region’s business environment, providing current data and exclusive expert analysis drawn from MEED’s team of experts

Wastewater

Webinar: Project opportunities in GCC wastewater Subscription

15 May 2012

Join MEED for an exclusive online seminar looking at the Gulf wastewater sector

Top 10 projects

Rank

Rank Project Name Sector Contract value  ($m)
1 Sohar Refinery Expansion Project Oil 2,100
2 Muscat & Salalah International Airport Expansion: Passenger Terminal: MC3 Transport 1,834
3 Muscat & Salalah International Airport Expansion: MC1 Transport 1,300
4 Khazzan & Makarem Fields: Central Processing Facility Gas 1,200
5 Redevelopment of Salalah International Airport: MC5 Transport 764
6 Muscat & Salalah Airports: Cargo Terminals & MRO Hangars: MC12 Transport 518
7 Rabab - Harweel Integrated Project: Onplot Gas 500
8 Rabab - Harweel Integrated Project: Offplot Gas 500
9 Musandam Oil Gas Processing Plant Gas 480
10 Salalah Ethylene Dichloride & Caustic Soda Facility Chemical 450
Click through to the full data table on Oman's biggest projects in construction
Click through to MEED's Q3 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: November 2014; All projects in execution

Project awards

Omran awards Al-Irfan masterplan deal

Omran awards Al-Irfan masterplan deal Subscription

15 January 2015 | By

Development will cover 7.4 million square metres

India’s Larsen & Toubro has won a contract to build a hotel at the Oman Convention and Exhibition Centre

Larsen & Toubro to build Muscat Crowne Plaza Subscription

8 January 2015 | By

Four-star hotel part of Oman Convention and Exhibition Centre

Oman awards $228m of power transmission deals

Oman awards $228m of transmission deals Subscription

23 December 2014 | By

Sultanate’s transmission company awards six contracts

GPS consortium wins Oman oil pipeline deal

GPS consortium wins Oman oil pipeline deal Subscription

18 December 2014 | By

Work involves building refined products pipeline linking Muscat and Sohar

Wartsila wins Oman IPP construction deal

Wartsila wins Oman IPP construction deal Subscription

15 December 2014 | By

Finnish company will build 120MW dual-fired plant in northern Musandam area

Power transmission in Oman

Abengoa awarded electricity project in Oman Subscription

11 December 2014 | By

OETC continue investing in Oman’s electricity

Oman approves road contract awards

Oman approves $702m of road contract awards Subscription

3 December 2014 | By

Tender board gives green light for Adam-Thumrait and Barka-Nakhal carriageways

Oman onshore oil block

Indonesian group wins Oman onshore oil block Subscription

27 November 2014 | By

MedcoEnergi to carry out six-year exploration programme in south of Oman

BP awards $4bn of contracts on Khazzan field

BP awards $4bn of contracts on Khazzan field Subscription

12 November 2014 | By

Group preparing to start third drilling rig on Oman tight gas development

Adwea peak water supply

Suez Environment wins major Abu Dhabi and Oman contracts Subscription

29 October 2014 | By

Work will include building desalination component of Abu Dhabi’s Mirfa project

Projects trends

Gulf projects index

Qatar the worst performer on Gulf index Subscription

20 January 2015

Qatar’s project market declines by 2.1 per cent after the scrapping of Al-Karaana project

Gulf projects index

Gulf index records modest growth Subscription

13 January 2015

Saudi Arabia’s projects market sees sole decline in region

Gulf Projects Index

Iran records biggest decline in five years Subscription

6 January 2015

Islamic Republic sees $15.8bn wiped off projects market

More Gulf Projets Index

All companies

Al Turki Enterprises Subscription

Al Turki Enterprises of Oman are a construction contracting company operating since 1976

Al Hassan Group of Companies logo

Al-Hassan Group Subscription

The company is looking to take on more engineering, procurement and construction work

See all Oman company profiles

Contractors

People

Sultan Qaboos bin Said al-Said Subscription

22 January 2015

Sultan Qaboos bin Said al-Said is ruler of Oman

Mohammed al-Rumhy Subscription

7 January 2014

Mohammed al-Rumhy is oil and gas minister, Oman

Maitha al-Mahrouqi Subscription

23 September 2013

Maitha al-Mahrouqi is undersecretary, Oman Tourism Ministry

Yahya Kamis Juma al-Zadjali

6 May 2013

Yahya Kamis Juma al-Zadjali is head of planning and engineering, Special Economic Zone Authority Duqm

Ammar al-Kharusi

6 May 2013

Ammar al-Kharusi is construction manager, Omran

Ahmed Mohammed Salem al-Futaisi

6 May 2013

Ahmed Mohammed Salem al-Futaisi

See all Oman biographies

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