July 2015 was a time of mixed feelings for the Omani oil industry. On the one hand, there was celebration, as the sultanate broke the 1m barrels per day (bpd) mark for the first time in its history, with average production for the month exceeding the key benchmark. On the other hand, there was disappointment, because this milestone had been...
With a wave of major public projects being implemented in sectors including energy, manufacturing, transportation and utilities, Oman’s construction industry is growing strongly. Demand also comes from the private real estate sector, where developers are delivering projects in thriving segments from grade-A office buildings to shopping malls...
Integrated tourism complexes (ITCs) are a key magnet for investment in the real estate sector. ITCs are zoned areas that allow foreign nationals to own property on a freehold basis, and mostly also grant investors two-year visas, renewable on application. Generally, only leaseholds are available to non-Omanis.
Companies working in Oman’s oil and gas sector are currently adjusting their operations in line with a government scheme aimed at making more of the extractive industry’s potential to benefit the broader national economy. The scheme, known as the ICV Blueprint Strategy, was unveiled in late 2013 and builds on previous successful practices to...
Two forthcoming infrastructure investments are set to substantially broaden the Omani downstream gas sector, creating opportunities for new export markets and new domestic industries. The two projects, which will see an estimated $3.6bn of investment, will be based at either end of the country. The first, a liquefied petroleum gas plant to be...
With a growing population and an economic development plan focused on industrial expansion, Oman’s utilities sector is looking to keep pace with rising demand. Fortunately, as far as the country’s power sector is concerned, market reforms stretching back almost two decades ensure that it is among the most competitive in the GCC, well capable...
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