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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

Projects due for award in next 12 months

Projects market loses its momentum Subscription

12 May 2015 | By

While essential schemes are still likely to move forwards, the drop in oil prices means projects that are more speculative could be put on hold

MEED contracts awarded April 2015

Middle East contracts awarded: April 2015 Subscription

3 May 2015

Nearly $5bn of contracts awarded in April in the Middle East

Middle East contracts March 2015

Middle East contracts awarded: March 2015 Subscription

15 April 2015

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

US oil production

The impact of US shale oil on the Middle East Subscription

6 April 2015 | By

Cheaper production could spell disaster for many of the region’s conventional oil fields

Hospital beds in Oman

Oman changes gears Subscription

30 March 2015 | By

The sultanate has committed to spending billions on health projects such as hospitals and medical complexes, although few schemes have materialised since 2013

Alila Jabal Akhdar Resort

Drake & Scull Leisure & Tourism Project of the Year - Oman Subscription

24 March 2015

Alila Jabal Akhdar Resort

Barka

Oman Power & Water Project of the Year Subscription

24 March 2015

Barka 3 and Sohar 2

Muscat, the capital of Oman

Slow and steady residential real estate market in Oman Subscription

22 March 2015 | By Dominc Dudley

Residential prices in Muscat are rising at a steady pace, but office space is in short supply

Filter Oman analysis by sector

MEED comment

Refining and petrochemicals developments in the region are bearing the brunt of lower oil prices

Downstream projects most under threat Subscription

4 May 2015 | By

Refining and petrochemicals developments in the region are bearing the brunt of lower oil prices

No sign of slowdown in Oman oil investment

No slowdown in Oman oil investment Subscription

14 April 2015 | By

Oil production still profitable, but sustaining national budget is a concern amid lower crude prices

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 Subscription

5 March 2015 | By

Competition may subside, but labour costs could increase

Philippa Wilkinson

Oman continues high capital spend Subscription

3 March 2015

Key projects will go forward in 2015

Construction

New vision for GCC construction workforce Subscription

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 Subscription

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 Subscription

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 Subscription

6 January 2015 | By

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

See all MEED commentary

Special reports

Real estate

Prices fluctuate in maturing real estate market Subscription

18 March 2015 | By

The region is seeing sharp differences in office and housing costs, depending on the maturity of the market

Sultan Qaboos bin Said al-Said has been in Germany receiving medical attention since July last year

Muscat committed to investment Subscription

10 March 2015

Projects are going ahead in the sultanate and the government has approved a record budget despite growing concerns about the absence of Sultan Qaboos

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

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 Khazzan & Makarem Fields: Central Processing Facility Gas 1,200
4 Muscat & Salalah International Airport Expansion: MC1 Transport 1,169
5 Redevelopment of Salalah International Airport: MC5 Transport 764
6 Salalah IPP 2 Power 630
7 New Hospital at Airport Heights Construction 555
8 Muscat & Salalah Airports: Cargo Terminals & MRO Hangars: MC12 Construction 518
9 Rabab - Harweel Integrated Project: Onplot Gas 500
9 Rabab - Harweel Integrated Project: Offplot Gas 500
Click through to the full data table on Oman's biggest projects in construction
Click through to MEED's Q1 2015 Top 100 Projects report
Source: MEED Projects; Data compiled: May 2015; All projects in execution

Project awards

Oil pipeline

Tebodin overseeing Muscat-Sohar pipeline Subscription

14 May 2015 | By

Dutch group appointed project management consultant for Oman infrastructure scheme

Duqm

Duqm Development Company appoints Aecom Subscription

10 May 2015 | By

US firm appointed for feasibility, master plan and design of phase two of Oman project

Gathering centre

Galfar awarded Khazzan gas gathering system Subscription

7 May 2015 | By

Local group to install pipelines at BP gas development in northern Oman

Galfar awarded Duqm refinery site preparation work

Galfar awarded Duqm refinery site preparation work Subscription

3 May 2015 | By

Local group to complete contract by second quarter of 2016

Oil well

MedcoEnergi given 25-year Oman extension Subscription

30 April 2015 | By

Indonesian group and partners awarded $600m contract

Qatar’s Nebras buys Jordan power plant stake

Poyry wins Oman power station role Subscription

29 April 2015 | By

Musandam power project will have a capacity of 120MW

Oman roads

Oman awards dual-carriageway Subscription

16 April 2015 | By

Local firm approved for road construction contract

Oman signs industrial estate contracts

Oman signs industrial estate contracts Subscription

15 April 2015 | By

New industrial areas to be ready by end of 2016

Hospitality sector

Murray & Roberts joint venture win Oman hotel deal Subscription

15 April 2015 | By

New property will be built at convention centre development

Oman signs water purchase agreement

Oman signs water purchase agreement Subscription

29 March 2015 | By

Singapore firm to develop independent water project

Projects trends

Gulf projects index

Qatar and Kuwait boost Gulf index Subscription

26 May 2015

Saudi Arabia records sole decline in regional projects market

Gulf projects index

Saudi Arabia leads Gulf index recovery Subscription

18 May 2015

All countries record gains to bring projects market up by 0.7 per cent

Gulf projects index

Impact of GCC slowdown takes hold Subscription

12 May 2015

Bahrain makes the biggest gain, while Saudi Arabia’s market continues to fall

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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