Oman runs hard to stand still
The sultanate’s long-term oil ambitions are modest, but the urgent appetite for fresh gas supply remains
Oman’s oil sector ambitions, set out in the government’s latest five-year development plan unveiled at the turn of the year, appear modest at first glance. Production is forecast to rise next year by a relatively unspectacular 10pc, to 1.1mn bl/d, and stay there until mid-decade. But this-near stasis is, in fact, hard-won—a mark of success in the constant battle to staunch and offset declines at the country’s maturing main fields. Meanwhile, the pacey industrial growth that forms a key plank of the country’s economic roadmap requires continued development of domestic gas resources to ease a precarious supply/demand balance. Economics challenge While modest oil output increments are targeted,
Also in this section
10 May 2024
The US’ contentious LNG permitting pause has prompted criticism from CEOs and wildly differing interpretations from politicians
9 May 2024
Pipeline boosts Canada’s oil industry by widening its export options, making it less reliant on US market and bringing Asia into the mix
8 May 2024
Despite Australia’s first import terminal nearing completion, the prospect of additional regasification projects is far from certain