Middle East

Oman

Oman has emerged as an upstream hotspot, with majors flocking to expand their footprint in a bid to emulate the successes of the BP-led Khazzan tight gas field.

State of Play

The sultanate has kept oil output at around 1mn b/d in recent years. But the real story is Oman’s gas renaissance. Oman is exporting around 12mn t/y of LNG on the back of recent capacity expansion and new projects are on the horizon.

2024 In Numbers
Crude Output 762,000 b/d
Gas Output 5.26 bn cfd
LNG Exports 12.06 mn tons
Power Capacity 11.3 GW
Renewable Capacity 1.7 GW
Economics & Finance

9 Jan, 2026

Featured

Oman Expects Back-To-Back Budget Deficits

Oman has pulled out of a dire fiscal tailspin over the past five years, but low oil prices are providing a challenge, with the recent return of modest deficits.
Oman Records First Deficit Since 2021 As It Budgets For A $1.4bn Deficit For 2026 ($bn)
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NEWS IN BRIEF

Oman Begins Delayed GCCIA Link Project

6 Feb, 2026

MBPS Awarded Three Rig Drilling Contract By KOC

30 Jan, 2026

PPAs Signed For 2.6GW Gas Power Plants In Oman

23 Jan, 2026

Oman: United Solar Secures Full $1.6bn Financing

23 Jan, 2026

Oman’s Asyad Renews Tanker Fleet

16 Jan, 2026

Financial Close Reached on Oman’s First Hybrid Solar/BESS Project

16 Jan, 2026

Oman-EDF Sign 120mw Wind PPA

19 Dec, 2025

Oman India Sign $10bn Trade Deal

19 Dec, 2025

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SELECTED DATA

OQEP Net Gas Output (Mn Cfd) Steadily Rises

While Liquids Output Declines Following Block 60 Farm-Out(‘000 b/d)

Tethys Working Interest Output* Is Down 40% From 2019's Peak ('000 b/d)

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