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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

Oman trends

Middle East contracts awarded June 2014

Middle East contracts awarded: June 2014 Subscription

31 July 2014

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

Middle East rig count on the rise

Middle East rig count on the rise Subscription

31 July 2014 | By

The region is now the world’s second-biggest market for operating oil rigs

Oil offshore

Oil exporters put the brakes on spending Subscription

12 June 2014 | By Dominc Dudley

Oil exporters are starting to trim spending to keep budgets more in line with oil prices

Oman’s middle-sized banks fight for market share Subscription

5 June 2014 | By

Tighter regulation heightens competition among Oman’s banks

Middle East contract awards May 2014

Middle East contracts awarded: May 2014 Subscription

2 June 2014

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

Middle East contract awards April 2014

Middle East contracts awarded: April 2014 Subscription

31 May 2014

Over $23bn of contracts awarded in April in the Middle East

Oman commercial banks deposit base

Oman’s banks remain resilient to shocks Subscription

22 May 2014 | By

Central bank warns sector to diversify funding base

Oman crude and condensates production 2013

Oman oil and gas output up in 2013 Subscription

12 May 2014 | By

Hydrocarbons production increases despite crude drop for state oil producer Petroleum Development Oman

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MEED comment

Markets and bonds

Bonds market gains maturity Subscription

10 April 2014

An increasingly diverse base of issuers, driven by strong economic growth is helping to deepen the region’s capital markets

Gasification at Jizan

Higher bid prices return to the GCC Subscription

10 April 2014

European firms have been winning work again for a couple of years now, beating South Korean competition

Oman

Oman looks forward to a positive future Subscription

3 April 2014 | By

With the government rooting out corruption, Oman can focus on a concerted projects drive

Gas

The Khazzan tight gas test Subscription

13 February 2014 | By

The region’s producers will be keeping a close eye on the progress of Oman’s new unconventional gas scheme for potential of its model working elsewhere

Oman

Crackdown a first step to reform Subscription

30 January 2014 | By

A corruption investigation into Oman’s oil and gas industry could lead to greater sector transparency

Awards

Local contractors dominate in 2013 Subscription

16 January 2014

The small size and nature of most contracts awarded last year saw local firms capitalise

UAE-Iran disputed islands

UAE-Iran islands deal would affect Gulf relations Subscription

16 January 2014 | By

Reported agreement would increase Iran’s influence in Strait of Hormuz and Oman ties

See all MEED commentary

Special reports

Oman

Oman: Transport schemes to open up the economy Subscription

2 April 2014

Oman is unique among the GCC states for its geographical beauty

GCC real estate

Real Estate: GCC property markets stabilising Subscription

18 March 2014

There is an uptick in demand for residential and commercial property across the region, with just one or two exceptions

GCC construction

Construction: Continuing GCC projects growth into 2014 Subscription

16 January 2014

After such a successful 2013, beating that target will be a major challenge for the GCC projects market in the year ahead

SR Cover Riding the Boom

Construction: Middle East rides the new projects boom Subscription

21 November 2013

Transport awards, particularly metro schemes, are driving a construction rebound across the region

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 Sur IPP Gas 1,600
4 Muscat & Salalah International Airport Expansion: MC1 Transport 1,300
5 Khazzan & Makarem Fields: Central Processing Facility Gas 1,200
6 Redevelopment of Salalah International Airport: MC5 Transport 764
7 Sohar Steel Complex Expansion: Phase 3 Industrial 560
8 Muscat & Salalah Airports: Cargo Terminals & MRO Hangars (MC-12) Transport 518
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 Q1 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: April 2014; All projects in execution

Project awards

Gas pipes

Jacobs awards management deal on Khazzan gas project Subscription

23 July 2014 | By

Contract includes management services on $2bn-worth of pipelines and production facilities

CB&I wins $50m supply deal for Sohar refinery expansion

CB&I wins $50m deal for Sohar refinery expansion Subscription

23 July 2014 | By

US group to supply heaters and steam reformer for project in Oman

Muscat, Oman

Mace awarded consultancy contract by Oman state refiner Subscription

22 July 2014 | By

UK group to provide contract services to hundreds on contracts in sultanate’s downstream sector

Petrochemical plant

Oman awards five technology licences on Liwa Plastics Subscription

16 July 2014 | By

Petrochemicals deals worth $80m handed to Randall, Axens, CB&I, LyondellBasell and Univation

Larsen & Toubro secures Oman airport work Subscription

7 July 2014 | By

Contract involves building terminal buildings at Duqm airport

Orpic awards contract consultancy deal Subscription

23 June 2014 | By

UK’s Turner & Townsend to provide pre-contract purchasing and procurement support

Linde wins design deal on Salalah ammonia plant Subscription

23 June 2014 | By

Construction deal of Omani chemicals project expected to be tendered at the end of 2014

CCC wins more work in Oman Subscription

11 June 2014 | By

Company secures work from Haya Water on Al-Amerat wastewater network

Sun Metals awards contracts on Sur steel mill Subscription

13 May 2014 | By

South Korea’s Posco and Japan-based Sojitz win deals on Omani metals scheme

Habtoor Leighton Group wins Omani hotel contract Subscription

7 May 2014 | By

Contractor Habtoor Leighton Group to build 206-room hotel at Saraya Bandar Jissah resort in Oman

Projects trends

Gulf Projects Index

Iraq war weighs on Gulf index Subscription

24 July 2014

Increasing instability causes Iraq projects market to contract by $13bn

Gulf Projects Index

Dubai’s Mall of the World boosts index Subscription

17 July 2014

UAE and Bahrain are the outstanding markets of the week

Gulf projects index

Iraq and UAE weigh on projects index Subscription

3 July 2014

Index slips as projects reach completion or stall in some countries, while Bahrain’s market leads growth 

More Gulf Projets Index

Companies

Al Hassan Group of Companies logo

Al-Hassan Group Subscription

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

Bahwan Engineering

Bahwan Engineering Subscription

Bahwan Engineering Group one of the largest engineering construction groups in Oman is involved in integrated construction projects in sectors such as oil, gas and power projects, transmission and distribution projects, airports, hotels, hospitals and commercial-residential complexes.

See all Oman company profiles

People

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

Salim bin Said bin Hamad al-Fannah al-Araimi

6 May 2013

Salim bin Said bin Hamad al-Fannah al-Araimi

See all Oman biographies

Newsletter Sign-up

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MEED events

Oman Projects 2014

Oman Projects Forum 2014

Reviewing Oman’s Project Market and upcoming Opportunities

More MEED events

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