Oman has historically been one of the smaller markets in the GCC. A smaller population and more limited oil and gas resources than its neighbours have traditionally meant that sits behind Kuwait and Qatar and ahead of Bahrain in terms of annual contract awards. But that is not to say that the Sultanate does not offer a variety of interesting opportunities for contractors, consultants and suppliers alike. In recent years, there have been a number of large-scale projects across different sectors such as the Duqm refinery, the new Muscat international airport, and the Batinah expressway scheme among others.
Because of the government’s limited financial resources, the private sector plays a key role in project development. Duqm is set to be a major investment hub, with several multi-billion dollar industrial projects in the pipeline funded by international investors seeking to take advantage of the new town’s beneficial location. The relative openness of the oil and gas sector means that several oil majors are active in hydrocarbons production in the Sultanate; both Total and Shell are planning major oil and gas export development projects from their concessions in Sohar and Duqm for example.
As the second largest country geographically in the GCC, Oman has extensive road and airport expansion projects as the government seeks to improve access to more remote regions. For the same reason, it has a more active mining sector than other regional markets. While the market may not offer the same extent and size of other local projects markets, it does offer interesting and potentially lucrative contracts for companies from around the world.
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“MEED Projects is an important tool for our business planning. It helps us identify key projects and personnel at an early stage.”EAGLEBURGMANN