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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

Oman
Oman 2009 2010 2011 2012 2013 2014 2015f
Nominal GDP ($bn) 46.7 56.8 67.7 75.4 77.1 80.5* 81.6
GDP per capita ($) 16,204 19,698 22,623 22,923 21,456 21,688* 21,272
Real GDP growth (annual change, %) 6.1 4.8 4.1 5.8 4.8 3.4* 3.4
Government revenue (% of GDP) 39.3 40.6 48.9 49.4 51.7* 49.8 48.6
Government total expenditure (% of GDP) 39.6 35.0 39.5 44.8 43.6* 46.8 48.4
General government debt (gross, % of GDP) 6.9 5.7 5.6 6.2 7.3 8.1 9.0
Current account balance (% of GDP) -1.3 10.3 15.8 13.3 11.9* 9.9 5.6
Inflation 0.9 4.2 3.3 2.9 0.3 2.8* 2.8
Population (millions) 2.9 2.9 3.0 3.3 3.6 3.7* 3.8
Unemployment (%) na na na na na na na
Click to see full economic data (2005 - 2019 forecast)
Source: International Monetary Fund, World Economic Outlook Database;
Last updated: February 2015; *=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

The Port of Fujairah has been adding storage capacity

Fujairah aims to become market leader Subscription

2 March 2015 | By James Gavin

The strategically located Port of Fujairah has been adding storage capacity in an attempt to overtake Singapore as the world’s top bunkerage centre

Gulf projects index

Middle East contracts awarded: February 2015 Subscription

1 March 2015

Over $8bn of contracts awarded in February in the Middle East

Ethylene production costs

Oil price drop will lower GCC petrochemicals margins Subscription

15 February 2015 | By

Regional producers will face stronger competition from naphtha-based crackers in Asia and Europe

Al-Massara Psychiatric Hospital, Oman

Oman Social Project of the Year

9 February 2015

Al-Massara Psychiatric Hospital

Oman Social Project of the Year

9 February 2015

German University of Technology in Oman

Middle East contracts awarded Jan 15

Middle East contracts awarded: January 2015 Subscription

3 February 2015

Over $7bn of contracts awarded in January in the Middle East

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

Filter Oman analysis by sector

MEED comment

The majority of the labourers working on the GCC’s construction sites come from India and other subcontinent countries

GCC contractors consider bumper Indian budget

5 March 2015 | By

Competition may subside, but labour costs could increase

Philippa Wilkinson

Oman continues high capital spend

3 March 2015

Key projects will go forward in 2015

Construction

New vision for GCC construction workforce

22 February 2015 | By Sachin Kerur

Development of a regional policy for hiring workers is under discussion

Coal-fired power plant

Coal back on the agenda

27 January 2015 | By

GCC and North Africa look to coal for power generation

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 Subscription

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

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 Subscription

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

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

Oman awards wind farm consultancy deal

Oman awards wind farm consultancy deal Subscription

26 February 2015 | By

ILF Consulting Engineers to advise on 50MW renewables project

Salalah Free Zone Company appoints Indian firm for work on Adhan phase one

Larsen & Toubro wins Oman infrastructure deal Subscription

18 February 2015 | By

Salalah Free Zone Company appoints Indian firm for work on Adhan phase one

Oman awards rail management contract

Oman awards rail management contract Subscription

11 February 2015 | By

Oman Railway Company appoints Spanish-led consortium to oversee sector A of national railway project

Package three of Oman Convention and Exhibition Centre awarded

Indian contractor wins Omran deal Subscription

9 February 2015 | By

Package three of Oman Convention and Exhibition Centre awarded

Oman awards road work

Oman awards road work Subscription

26 January 2015 | By

Galfar Engineering & Construction confirms $73m contract win

Suez Environnement wins Muscat waste facility deal

Suez Environnement wins Muscat waste deal Subscription

25 January 2015 | By

French group’s subsidiary will expand capacity of facility to 400,000 tonnes

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

Projects trends

Gulf projects index

Kuwait five-year plan boosts index Subscription

3 March 2015

Six per cent rise in Kuwait market contributes to Gulf Projects Index growth

Gulf projects index

UAE leads Gulf index decline Subscription

24 February 2015

Region’s second-biggest projects market drops by 3 per cent

Gulf projects index

Oman leads Gulf index growth Subscription

17 February 2015

UAE and Qatar only other countries to record increases in value

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

Marla Valdez Subscription

28 January 2015

Marla Valdez is partner, Energy Middle East and Africa at Dentons

Andrew Figgins Subscription

28 January 2015

Andrew Figgins is managing associate at Dentons Muscat in Oman

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

See all Oman biographies


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