Oman upstream summary Report

Country Report 07 February 2025

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Report summary

Oman is the largest non-OPEC oil producer in the Middle East and has a diverse upstream industry featuring a range of international oil companies (IOCs) and local companies. It offers potentially rewarding opportunities for investors and is keen to attract new experienced operators. Block 6, operated by Petroleum Development Oman (PDO), accounts for the majority of Oman's production - both oil and gas - and is the largest onshore licence. PDO and Oman is internationally recognised for its expertise in EOR developments, partly due to the complex geology in the country. Recent efforts in the country have seen major investment in Oman's domestic gas projects. The Khazzan project came onstream in 2017 and is now a major gas producer.

Executive summary
Key facts
Location maps
Key companies
Geology
- Introduction
- Regional Tectonic Framework
- Major Petroleum Plays
  - Huqf Group
  - Haima Group
  - Haushi Group
  - Khuff Formation
  - Shuaiba Formation
  - Natih Formation
- Source Rocks and Petroleum Type
Exploration
- Licensing
- Licensing summary
  - Licensing rounds
  - Ah-hoc licensing
  - Historical licensing
- Licensed exploration blocks
  - Block 11- Shell
  - Block 12 - TotalEnergies
  - Block 15
  - Block 17 - PetroTel
  - Block 30 - Occidental Petroleum
  - Block 31 - ARA Petroleum
  - Block 38 - CCED
  - Block 39 - PetroTel
  - 29 more item(s)...
- Drilling
  - Drilling activity
  - Success rates
Reserves and resources
- Oil
- Gas
Production
- Oil/Liquids
  - Production outlook
  - Recent production
  - Historical production
- Gas
  - Recent production and outlook
  - Historical production
Infrastructure
- Introduction
- Oil infrastructure
  - Oil pipelines
- Oil storage and terminals
- Oil Refineries
  - Mina Al Fahal refinery
  - Sohar refinery
  - Duqm refinery (OQ8)
- Gas infrastructure
  - Gas pipelines
  - LNG terminals
  - Gas Processing Plants
Costs
- Introduction
- Capital costs
  - Capital expenditure by location
  - Oil
  - Gas
- Operating costs
  - Operating expenditure by location
Policy and regulation
- Key legislation
- Regulatory body
  - Ministry of Energy and Minerals (MEM)
  - Integrated Gas Company (IGC)
- State oil company
  - OQ (formerly Oman Oil Company)
  - OQ Gas Networks (formerly Oman Gas Company)
  - Energy Development Oman (EDO)
- State participation
- Licensing
Fiscal terms
- Overview
  - Upstream
  - Mid/Downstream
- Current fiscal terms
- PDO concession
- Petroleum Agreement / Exploration & Production Sharing Agreement (EPSA)
  - State equity participation
  - Bonuses, rentals and fees
  - Training fees
  - Royalty and other production taxes
  - Contractor revenue entitlement
  - Liquids pricing
  - Natural gas pricing
  - Cost recovery
  - 4 more item(s)...
- Historical background
  - Pre-1980
  - 1980s
  - 1990s to present