Oman - against the odds
Oman hopes to sustain oil production by refocussing its upstream strategy, developing new technologies and securing international financing
Away from the spotlight trained on the fiscal woes of the major Gulf producers, Oman is quietly consolidating its oil sector. Despite a sharp fall in revenue, the sultanate is determinedly pressing ahead with upstream development, enabling oil production to plateau at just over 1m barrels a day, up from 0.918m b/d in 2012. As proof of sustained upstream activity, Baker Hughes data show that the country's rig count in July and August this year (65) matched the figure in the same period of 2015. The bulk of Oman's oil production (nearly 70%) comes from fields operated by Petroleum Development Oman (PDO), of which the government owns 60%, with the remaining stakes held by Shell, Total and Parte
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
