As the sultanate’s oil and gas sector enters a renaissance period, moving back towards production levels of 15 years ago using enhanced oil recovery (EOR), and while new unconventional gas production offers new economic opportunities, the industry has found itself facing a shortage of human resources (HR). Recent estimates put Oman’s HR gap in the tens of thousands, and...
Oman Energy
Displaying 55 - 60 of 97
Articles & Analysis | New training centres are being developed to address the shortage of qualified workers from The Report: Oman 2015
Interviews & Viewpoints | Harib Al Kitani, CEO, Oman LNG: Interview from The Report: Oman 2015
As it seeks to keep up with the growing demand for gas, how is Oman addressing capacity-related constraints in the upstream gas segment?
Oil and gas remain key economic contributors in Oman, with hydrocarbons accounting for 85.7% of government revenues in 2013. New partnerships with the private sector have led to some of the most advanced enhanced oil recovery (EOR) projects in the world with the use of solar-fired EOR technologies playing an increasingly important role in the sector. The sultanate is expected to substantially...
Although the sultanate’s petroleum wealth has traditionally provided a backbone for growth, efforts are well under way to diversify away from hydrocarbons. Oman Vision 2020 has laid out plans to boost industrialisation within the sultanate and to encourage the private sector to take a more active role in the economy and in the provision of jobs, both of which are billed as key drivers for growth.
Domestic gas requirements are set to expand rapidly over the next few years as Oman’s industrial base expands and as the utilities sector grows to keep pace with rising demand for water and electricity. However, officials have said projected increases in gas production will be managed to ensure supplies can be guaranteed over the long term.
The sultanate’s economy continues to enjoy the benefits of petroleum wealth, which has provided budget surpluses in most years and served as a backbone for growth. However, planning is well under way for an era in which oil will not be the main economic driver, with the twin goals of diversification and creating an increased number of private sector jobs at the top of the government’s current agenda.