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Oman news and analysis, tenders, contracts awarded, commentary and economic data

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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 ($bn) 60.7 48.2 58.8 70 76.5 78.8 79.8
GDP per capita ($) 21,808 16,734 23,351* 23,380 24,765 24,729 24,272
Real GDP growth (annual change, %) 13.2 3.3 5.6 4.5 5 4.2 3.5
Government revenue (% of GDP) 46.2 38.1 39.3 44.6** 50 47.4 44.7
Government total expenditure (% of GDP) 29.4 38.4 34 38.3* 38.2 42.1 44.5
Total government debt (gross, % of GDP) 4.7 6.7 5.5 5.5* 6.1 7.2 8.2
Current account balance (% of GDP) 8.3 -1.2 8.7 17.7 15.6 9.9 4.7
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 (%) 11.8 0.9 4.2 3.3 2.9 3.3 3.3
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...


Doing business in Oman Subscription

3 November 2013, 9:28 GMT | By

Welcome to MEED’s Guide to Doing Business in Oman

Oman trends

March contract awards

Middle East contracts awarded: March 2014 Subscription

17 April 2014, 12:23 GMT

Over $12bn of contracts awarded in March in the Middle East


The growing appetite for bonds Subscription

10 April 2014, 13:46 GMT | By

Increased corporate activity spurred by strong economic growth is helping to expand the market

Serco is the service provider for the Dubai Metro

Bringing the region's services to life Subscription

10 April 2014, 13:21 GMT | By

Facilities management firm Serco works quietly in the background, providing major services across various sectors in the region, but its CEO is looking to extend its reach

Middle East contracts awarded: February 2014 Subscription

20 March 2014, 12:58 GMT

Over $17bn of contracts awarded in February in the Middle East

Contract awards

Middle East contracts awarded: January 2014 Subscription

16 February 2014, 11:13 GMT

Over $17bn awarded in January in the Middle East

GCC gas contracts

Uptick in GCC gas awards expected in 2014 Subscription

12 February 2014, 11:06 GMT | By

Oman’s Khazzan deal the first of several big contracts this year as GCC invests in gas supply


Kuwait set to be biggest GCC oil and gas spender in 2014 Subscription

14 January 2014, 13:07 GMT | By

Large contracts on refineries and heavy oil should see Kuwait overtake the UAE this year

Middle East contract awards December 2013

Middle East contracts awarded: December 2013 Subscription

8 January 2014, 8:16 GMT

Over $7bn awarded in December in the Middle East

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MEED comment

Markets and bonds

Bonds market gains maturity

10 April 2014, 15:39 GMT

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

10 April 2014, 15:24 GMT

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


Oman looks forward to a positive future

3 April 2014, 15:52 GMT | By

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


The Khazzan tight gas test Subscription

13 February 2014, 13:59 GMT | 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


Crackdown a first step to reform Subscription

30 January 2014, 14:05 GMT | By

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


Local contractors dominate in 2013 Subscription

16 January 2014, 15:46 GMT

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, 12:47 GMT | By

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


Muscat fired up by gas potential Subscription

7 November 2013, 13:07 GMT | By

The development of a huge tight gas project and gas trade potential with Iran could boost Oman’s economy

See all MEED commentary

Special reports


Oman: Transport schemes to open up the economy

2 April 2014, 13:49 GMT

Oman is unique among the GCC states for its geographical beauty

GCC real estate

Real Estate: GCC property markets stabilising

18 March 2014, 14:02 GMT

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, 13:52 GMT

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, 6:29 GMT

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

More Oman special reports

Market presentations

Project Finance

Webinar: Middle East project finance outlook Subscription

17 June 2013, 11:40 GMT

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, 5:52 GMT

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


Webinar: Project opportunities in GCC wastewater Subscription

15 May 2012, 11:24 GMT

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

Top 10 projects


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 Redevelopment of Salalah International Airport: MC5 Transport 764
6 Sohar Steel Complex Expansion: Phase 3 Industrial 560
7 Muscat & Salalah Airports: Cargo Terminals & MRO Hangars: MC12 Transport 518
8 Musandam Oil and Gas Processing Plant Gas 480
9 Salalah Ethylene Dichloride & Caustic Soda Facility Chemical 450
10 Sohar Steel Complex Expansion: Phase 2 Industrial 400
Click through to the full data table on Oman's biggest projects in construction
Click through to MEED's Q4 2013 Top 100 Projects report
Source: MEED Projects; Data compiled: January 2014; All projects in execution

Project awards

WorleyParsons wins Oman petrochemicals contract Subscription

30 March 2014, 11:17 GMT | By

Australian group to oversee development of polyester chemicals complex in Sohar

Foster Wheeler wins Duqm refinery design contract Subscription

25 March 2014, 13:19 GMT | By

Front-end engineering and design on $6bn Duqm project in Oman to be carried out over 14 months

Petrofac wins $1bn deal on Rabab Harweel oil and gas development Subscription

24 March 2014, 9:06 GMT | By

UK group will handle engineering, procurement and support for construction and start-up phases

Oman awards two contracts on $3.6bn petrochemicals complex Subscription

24 March 2014, 5:46 GMT | By

CB&I and Engineers India pick up deals on Liwa Plastics’ design and project management

Carillion wins Omani resort contract Subscription

25 February 2014, 8:56 GMT | By

Carillion to perform infrastructure work at Saraya Bandar Jissah

Petrofac-led consortium awarded $1.2bn Khazzan contract Subscription

11 February 2014, 10:01 GMT | By

BP hires contractors to build central processing facility at Oman tight gas field

Oman awards two contracts for BidBid-Sur road project Subscription

9 February 2014, 10:42 GMT | By

Larsen & Toubro and Khalid bin Ahmed & Sons win last packages for road scheme

KCA Deutag wins $220m deal to build rigs for Oman’s Khazzan tight gas project Subscription

3 February 2014, 12:22 GMT | By

BP awards five-year contract to UK-based group with drilling to start in fourth quarter

Turkish firm wins $109m road contract in Oman Subscription

26 January 2014, 7:15 GMT | By

Sezai Turkes-Feyzi Akkaya to refurbish coastal road

BP and Oman reach final agreement on Khazzan tight gas development Subscription

16 December 2013, 11:29 GMT | By

Construction expected to start in 2014 on gas capacity equal to a third of Oman’s current output

Projects trends

Gulf projects index

Iraq and UAE lead Gulf index growth Subscription

17 April 2014, 11:01 GMT

Kuwait, Qatar and Iran record largest declines in value

Gulf Projects Index 8 April 2014

UAE leads growth in Gulf index Subscription

10 April 2014, 11:06 GMT

Iraq records largest decline in value of projects market in the region

Gulf projects index

UAE records strong growth Subscription

3 April 2014, 9:31 GMT

Oman sees second-largest increase while Iran continues poor performance

More Gulf Projets Index


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


Mohammed al-Rumhy Subscription

7 January 2014, 6:57 GMT

Mohammed al-Rumhy is oil and gas minister, Oman

Maitha al-Mahrouqi Subscription

23 September 2013, 15:51 GMT

Maitha al-Mahrouqi is undersecretary, Oman Tourism Ministry

Yahya Kamis Juma al-Zadjali

6 May 2013, 12:12 GMT

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

Ammar al-Kharusi

6 May 2013, 9:06 GMT

Ammar al-Kharusi is construction manager, Omran

Ahmed Mohammed Salem al-Futaisi

6 May 2013, 8:33 GMT

Ahmed Mohammed Salem al-Futaisi

Salim bin Said bin Hamad al-Fannah al-Araimi

6 May 2013, 8:02 GMT

Salim bin Said bin Hamad al-Fannah al-Araimi

See all Oman biographies

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MEED events

Oman Projects 2014

Oman Projects Forum 2014

Reviewing Oman’s Project Market and upcoming Opportunities

More MEED events