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-EDF Sign 120mw Wind PPA

19 Dec, 2025

Oman India Sign $10bn Trade Deal

19 Dec, 2025

UK-Listed Kistos To Enter Oman Upstream

12 Dec, 2025

Oman’s PDO Inks Sour Gas Project Deal

12 Dec, 2025

Developers Axe Two Oman Green H2 Projects

5 Dec, 2025

GCCIA Signs Contracts For Oman, UAE Expansion

28 Nov, 2025

Oman Energy Ministry Taps Block 5 For More Oil

21 Nov, 2025

Oman Plans Duqm NGL Project

21 Nov, 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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