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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

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Oman trends

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

November contract awards

Middle East contracts awarded: November 2014 Subscription

1 December 2014

Over $3bn of contracts awarded in November in the Middle East

Diplomacy: Oman has had frequent contacts with the Obama administration in recent months

Muscat goes it alone Subscription

6 November 2014 | By James Gavin

Oman’s abstention from the US coalition against Isis underlines its determination to remain a mediator in the region and pursue a discrete foreign policy

Oman promises to offer one of the region’s most active wastewater sectors in the coming decade

Oman wastewater market holds huge potential Subscription

6 November 2014 | By

Oman’s low connection rates and growing population mean the sultanate will be an active market for wastewater developers in the coming decade

Oman crude and condensate and natural gas outputs

Oman contract awards reach record highs Subscription

6 November 2014 | By

While this year is set to be the most active for oil and gas contractors in Oman, 2015 also looks promising, with several large schemes moving ahead

Filter Oman analysis by sector

MEED comment

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

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

30 October 2014 | By

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

Power generation

Power leads privatisation drive in Oman

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

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

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

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

Oil and gas processing plant

Spanish consortium awarded Oman oil and gas plants modernisation Subscription

29 October 2014 | By

OHL Industrial and Sener win contract on Petroleum Development Oman facilities

The UK's BP has awarded about $730m in long-term drilling contracts for its Khazzan tight gas project in central Oman

BP awards $730m in Oman drilling deals Subscription

8 October 2014 | By

KCA Deutag and Abraj Energy Service win deals on Khazzan gas project

Petrochemicals plant

Mott MacDonald wins Oman natural gas liquids plant design Subscription

1 September 2014 | By

Fahud project to extract products from pipeline gas to feed planned Sohar petrochemicals complex

Power supply in rural Oman

Local firm wins Oman fuel contract for rural power facilities Subscription

1 September 2014 | By

Fuel will be used for power stations outside of ulstanate’s main grid

Projects trends

Gulf projects index

Iran decline pulls down Gulf index Subscription

18 December 2014

Islamic Republic’s fall in value cancels out growth in UAE, Oman and Kuwait

Value of projects planned or under way 2 Dec.jpg

Kuwait growth fails to lift Gulf index Subscription

4 December 2014

UAE records biggest decline in value of projects market since August

Gulf projects index

Qatar and UAE buoy Gulf index Subscription

27 November 2014

All other Gulf countries except Oman record declines 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

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

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