Oman Oil and Gas Report - Business Monitor International - Industry Reports

Oman Oil and Gas Report

Oman Oil and Gas Report - Business Monitor International - Industry Reports
Oman Oil and Gas Report
Published Sep 10, 2016
80 pages — Published Sep 10, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Oman lacks the resources of its Persian Gulf neighbours, and, therefore, faces a more uphill battle in developing its oil and natural gas reserves. As Oman s hydrocarbon deposits were discovered much later than those in the main Middle Eastern OPEC states, it has always lagged behind its regional counterparts. ...Indeed, with the low global oil price environment, we believe smaller energy producers such as Oman will have more challenges attracting upstream investment. With lower output per well and less accessible reservoirs, Oman is deploying enhanced oil recovery (EOR) techniques that make its cost of extraction a multiple of those seen elsewhere in the region. However, with the current era of deflated global prices not changing for the foreseeable future, the urgency to invest in smaller producing countries such as Oman will dissipate. ...That said, we note a substantial upside potential upside arising from active exploration scene, especially offshore Oman. According to Oman s Ministry of Oil and Gas, major oil companies conducting exploration

...We hold our negative forecast for Oman s oil and gas reserves. We believe the country s oil reserves will contract by more than -- to -.-mn bbl by ----. Gas reserves will follow suit shrinking by nearly -- to ---bcm during ---------. In late-August ----, ARA Petroleum informed about its plans to conduct drilling and workover campaigns in ---- and ---- on Omani Block --. � Despite short-term gains, Oman s oil production is set to decline by around -.- over the coming decade, standing at ---,---b/d in ----. � Oman s gas production is set to peak at --.-bcm in ----, up from --.-bcm in ----. ...� This quarter we have slightly upgraded our refined fuels production forecast due to the ongoing upgrades and expansion projects in Oman s downstream sector. We believe refined fuels output will continue increasing at an average annual pace of -.- across our review period, reaching ---,---b/d in ---- � According to Oman Oil Refineries and Petroleum Industries Company, the country s demand for refined fuels has been slowing in the first four months of ---- following subsidy reforms implemented at the

...� Business Monitor International Ltd Page - beginning of the year. We forecast ---- refined products consumption at ---,---b/d, marking a -.- y- o-y increase. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Oman Oil and Gas Report" Sep 10, 2016. Alacra Store. Oct 24, 2016. <>
Business Monitor International - Industry Reports. (2016). Oman Oil and Gas Report Sep 10, 2016. New York, NY: Alacra Store. Retrieved Oct 24, 2016 from <>
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